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Sterlite drops copper business demerger

Our Bureau

Mumbai , Sept. 16

STERLITE Industries (India) Ltd has decided to withdraw the scheme of arrangement for demerger of the copper business.

The company had earlier announced plans to hive off its copper business and its investments to a new company.The company said it plans to raise resources in the international markets are now well advanced. Besides, its market capitalisation has increased. Therefore, in the changed circumstances, the board has decided not to proceed with the scheme for demerger.

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