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 ...
Airtel to sell its two African ops to Orange
The Dollar Business Bureau France-based Orange and Bharti Airtel International (Netherlands) BV have entered into an agreement under which the French firm will acquire Airtel’s operations in Burkina Faso and Sierra Leone. This deal is part of Orange’s international development strategy to spread its wings to the emerging markets. Through this deal, Orange intends to reinforce its presence in Africa with two additional countries, adding almost 5.5 million customers to its mobile customer base. “This acquisition marks an important step forward in Orange’s dynamic growth strategy and will bring the group’s African footprint up to 20 countries in 2016,” Airtel said in a statement on Wednesday. “Under the deal, Orange will acquire 100% of the two companies’ share capital and ...
