Loop Mobile to go under the hammer?

The Economic Times reports that the owners of Indian cellco Loop Mobile are considering selling the company and are looking at a valuation of about USD450 million, citing officials close to the matter. Loop Mobile is the sister company of Loop Telecom, which has chosen not to participate in the upcoming spectrum auction after its operating licences were revoked by the Supreme Court in February this year. Loop Mobile was said to be looking to ‘exit the telecom space,’ though a spokesperson for the cellco has denied the claim, calling it ‘highly speculative in nature’.