L&T confirms talks with Schneider Electric still on

Schneider Electric has proposed to buy Larsen & Toubro's electrical business

Amid media reports about Schneider Electric's proposal to buy Larsen & Toubro's electrical business, the latter said talks with Schneider is still on. 

L&T non-Executive chairman A M Naik confirmed that talks with Schneider are underway. "It is a long and drawn-out process, therefore talks are on, but nobody can say what will happen at the end," AM Naik said in a telephonic conversation with Business Standard.