• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hopes to sign agreement with Essar soon

`GREAT DEAL': The Vodafone Chief Executive Officer,, Mr Arun Sarin, leaving after meeting the Prime Minister, Dr Manmohan Singh, at his residence on Friday. — Kamal Narang

Advertisement

New Delhi Feb. 16 The Vodafone CEO, Mr Arun Sarin, who is set to acquire majority stake in Hutchison-Essar, today apprised the Prime Minister, Dr Manmohan Singh, of how the company plans to expand in the rural markets.

Mr Sarin had called on the Prime Minister on Friday morning before flying back to London after a three-day visit to the country. Emerging from the Prime Minister's residence, Mr Singh exuded confidence over the agreement Vodafone had discussed with the Essar group on Thursday.

He told presspersons he was convinced that Essar would remain a partner in the mobile venture. "I am going back with the very positive feeling that we are working together... they are the founding partners in this venture... I would very much like for them to continue," Mr Sarin said.

Investment Plans

Mr Sarin said Vodafone would discuss its investment plans with Essar while adding that "shareholders agreement with Essar will hopefully be signed soon." Vodafone has already committed to invest $2 billion in two years for expansion of Hutch-Essar in India as part of efforts to become the country's largest mobile operator with a target of 100 million subscribers.

On being asked when he plans to be back in India, Mr Sarin said: "I am coming soon I hope. There is still some work to be done and we will do that work in the coming weeks."

More Stories on : Telecommunications | Rural Development

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Nasscom award for IBM chief

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line