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Sarin arrives today for board meet

Mumbai, June 12 (PTI): Vodafone CEO Arun Sarin is arriving here tomorrow ahead of the first board meeting of his firm’s Indian joint venture — Vodafone Essar — that will kick off the integration process later this week.

A new board would be constituted later this week, sources said.

Vodafone had bought a controlling stake in India’s fourth largest cellular company Hutch Essar, in which the Ruias hold a 33 per cent stake, in February. Vodafone had paid $10.9 billion to buy a controlling stake in the venture from Hutchison Telecom International Ltd.

Vodafone will pump in about $2 billion (over Rs 8,000 crore) to expand the network across the country, especially in rural India, which is yet to taste the fruits of the telecom revolution.

Sarin had earlier said after acquiring Hutch that the name of Hutch Essar would be changed to Vodafone Essar during the process of integration.Sources said all such issues, including operational matters, were likely to come up for discussion.

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