Sterlite Tech completes demerger of power business
The Dollar Business Bureau Sterlite Technologies Ltd has completed the demerger of its power transmission business into Sterlite Power Transmission Ltd. The demerger was already approved by the Mumbai High Court on April 22, 2016. The demerger of power business will provide better opportunity for the company to focus on its telecom business, stated a media release by the company. Sterlite Tech also completed the merger of Elitecore Technologies, a solution provider of Operation Support Service (OSS) and Business Support Service (BSS). According to the company, Elitecore has the capacity to monetise all IP networks that include Cable, 3G/LTE, Wi-Fi, ADSL, FTTH. Sterlite acquired Elitecore in 2015. The merger will now allow strengthening of customer offerings as a single telecom company. Sterlite is ...
