Sterlite Tech Demerges Power Business, Eyes Pure-Play Telecom Tag

New Delhi: Sterlite Technologies on Tuesday announced demerger of its power business into Sterlite Power Transmission to become a pure-play telecom firm. "The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said in a BSE filing. "The demerger of power transmission business is a strategic decis...