Hong Kong, Aug 19; Hong Kong-based Hutchison Whampoa’s cellular phone venture in India is planning to invest $350 million to expand its operations, a spokeswoman for Hutchison said on Tuesday. Further details were not immediately available.

The Hutchison Essar joint venture's mobile phone holdings include networks in New Delhi, Kolkata and Gujarat.

Meanwhile, a report in the ET suggests that the shareholding pattern of the consolidated entity is close to being finalised. Hutchison Telecom will directly hold 49% in the merged entity while Indian shareholders will have 51%. However, it’s likely that Hutchison’s actual stake will be a shade higher than 49% through a holding company structure, according to sources close to the transaction. So far as christening the merged cellular company goes, it could be a toss-up between Hutchison Essar Telecom or plain Hutchison-Essar, top shareholder circles told. Bureau Report