July 12, 2024

CEO von Sterlite Tech, Telecom News, ET Telecom

CEO von Sterlite Tech, Telecom News, ET Telecom

A senior official said the board-approved board of digital network integrator Sterlite Technologies, which is reviewing a roadmap for tax effectiveness and the company’s regulatory reorganization, is expected to present its recommendations in mid-November.

Anand Agarwal, CEO of STL Group, said a lot of reorganization is expected to take place this fiscal year.

The committee’s recommendations will be effective by November and some parts of the work will be implemented. PTI Agarwal said.

STL has made dozens of acquisitions in various regions over the past few years, including UK network integrator Clearcomm and Italy-based optical interconnection products company Optotec.

The proposed reorganization aims to simplify the overall structure of the company and offer each of the four business areas – visual, services, software and wireless – a clear growth path.

In July of this year, the STL Board of Directors granted initial approval to consider tax and regulatory reorganization of the business.

He also formed the Board of Directors and authorized the Committee to recommend the final roadmap for the reorganization of its business, including filing and taking all necessary steps with appropriate governmental, regulatory and judicial authorities.

With a portfolio that includes optical fibers and cabling, network design and deployment, and network software, STL, headquartered in Pune, positions itself as an integrated solutions provider for global data networks with fiber and cable manufacturing facilities in India, Italy, China and Brazil.

Sterlite Technologies (STL) recently announced plans to expand its fiber optic manufacturing capacity, including new facilities in the US and UK with a total investment of around Rs 200 billion.

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The capacity of the optical fiber cable will be increased from 33 million kilometers of optical fiber to 42 million kilometers.

These capacity improvements will enable planned broadband fiber builds in the US, Europe and the UK to support rural broadband and 5G programs.