Vodafone-Essar 'best of global & local partnerships': Sarin

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Vodafone has reached an agreement with Essar on partnership terms, reports CNBC-TV18.

Arun Sarin, CEO of UK's Vodafone, today inked a partnership deal with Indian conglomerate Essar Group, said he expects regulatory foreign investment approval for its India plans in the coming weeks."The deal is subject to approval from government agencies such as Foreign Investment Promotion Board (FIPB) and we expect it in the coming weeks," he said at a press conference.

The India-born CEO of the UK firm also announced a three-pronged strategy for its India plans - to accelerate capital expenditure on network infrastructure, to improve suite of products and services and provide innovative services such as money transfer via mobile. Referring to Vodafone's partnership deal with Essar, Sarin said this was "best of global and local partnerships."

With PTI inputs