Nearly a month after UK-based Vodafone clinched a deal for acquiring Hong Kong-based Hutchison Telecom International's controlling stake in HEL, Sarin will tomorrow announce the terms and conditions of the partnership with Ruias-promoted Essar, which holds 33% stake in the JV.
The two firms have also agreed to rename Hutch-Essar as Vodafone-Essar, which would start selling its products and services under the Vodafone brand in due course.
The partnership would be announced at a joint press conference by Sarin and Ravi Ruia, vice chairman, Essar Group, sources close to the development said. However, it was not confirmed whether the deal would be announced in the national capital or Mumbai, where HEL is headquartered.
Read more in The Business Standard article.
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