FLAG Telecom receives $211M increased consideration from Reliance Gateway.

FLAG Telecom, a leading provider of international wholesale network transport and communications services, has entered into a second amendment to the Agreement and Plan of Amalgamation with Reliance Gateway. The consideration for the deal has been increased to approximately $211 million in cash, reflecting a new price per share. FLAG Telecom's largest shareholder, Reliance Gateway, has entered into a voting agreement to vote in favor of the amalgamation. FLAG Telecom has filed with the SEC to deregister its common shares.