04:49 am - Thursday 27 April 2017

Bharti Airtel may buy Loop Mobile

By insightVAS - Fri Jan 17, 2:34 pm

Bharti Airtel is in negotiation with Mumbai-based Loop Mobile to acquire the latter for around Rs 750 crore. If the deal goes through, then Bharti Airtel will add more than three million subscribers.

If Airtel acquires Loop, it will give the telecom major an edge over archrival Vodafone, which is the market leader in Mumbai with nearly 6.8 million subscribers. In September last year, Airtel was ranked third in Mumbai with 4.1 million subscribers.

Loop has decided not to bid for the 2G auction of 900 MHz by the government scheduled for February 3. The validity of Loop’s license to operate in Mumbai expires in November this year. Currently, it holds 8 MHz of spectrum in the 900 MHz band valued at Rs 2,624 crore. It also operates 2,000 mobile tower sites.

However, the Khaitan-owned company said it has approached the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) to renew the validity of its licence and that it is willing to pay the market price for spectrum if it is renewed.

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