04:44 pm - Saturday 29 April 2017

Bharti Airtel may soon acquire Loop Mobile

By insightVAS - Mon Feb 17, 3:20 pm

Bharti Airtel may soon acquire Loop Mobile in a deal worth Rs 7 billion.  This is going to be first deal following after the government finalized its telecom merger & acquisition (M&A) policy.
 
The deal will earn Airtel the three million subscribers of Loop along with 400 telecom towers. Apart from this Airtel will also get optic fibre connecting the towers, and electronic equipment running Loop’s network.

It will make Bharti Airtel the largest telecom operator in the Mumbai circle with about 7 million subscribers, ahead of rival Vodafone’s Indian unit.

Kotak Mahindra Investment Bank is the sole advisor for the transaction, running the sale process. There is no banker involved on behalf of Bharti Airtel.

A Bharti spokesman declined to comment. Loop did not have an immediate comment.

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