Indian mobile operator Reliance Communications has brought UK virtual network operator (VNO) Vanco in a £39m deal.

Vanco delivers managed broadband, leased line and voice over IP (VoIP) network services to some 200 large corporate clients across the world, including Lloyds TSB and Siemens, with an estimated 90 per cent of its revenue coming from the UK, Germany, France and the US.

Vanco suspended trading of its shares on 6 May following the resignation of chief executive Allen Timpany the day before, primarily due to "uncertainty" about its financial results for the year ending January 2008.

With Vanco onboard, Reliance will have more than 1,400 corproate customers and gain an additional nine network management centres. The assets will help to create a global integrated services communications powerhouse, predicted the company.