Hutch-Essar to Become Vodafone-Essar
March 14, 2007
Indian cell phone company Hutch-Essar Ltd. will change its name to Vodafone-Essar and start selling Vodafone products and services, the company said Wednesday.
The company, owned by India’s Essar Group, finalized its partnership agreement with Britain’s Vodafone Group PLC following Vodafone’s $11.1 billion purchase of a controlling 67 percent stake in Hutchison Essar last month, The Times of India reported.
Vodafone Chief Executive Arun Sarin and Essar Vice Chairman Ravi Ruia will announce the terms at a news conference in India Thursday, the companies said.
The terms are believed to give Vodafone operational control of Vodafone-Essar, The Times said.