VSNL is in the process of acquiring Teleglobe International Holdings, a Canadian telecom major providing wholesale voice, data, IP and mobile signalling services. Teleglobe has more than 1,400 wholesale customers and carries 13 billion minutes of voice traffic globally. The acquisition will give VSNL access to a network that covers more than 240 countries. The deal, valued at $239 million, is subject to approval of Teleglobe's shareholders as well as government approvals in various countries. The acquisition comes after nine months of its acquisition of Tyco Global Network. If this deal goes through, VSNL will carry voice traffic of around 16 billion minutes and will trail behind only two carriers, AT&T and MCI.