Bharti in the Loop for Mumbai takeover

20 Jan 2014

Bharti Airtel is in talks to buy Mumbai-based Loop Mobile in a deal estimated to be worth INR7.5 billion (USD121.89 million) the Economic Times writes. A number of other operators are also reportedly involved in negotiations with Loop regarding a potential takeover of the cellco’s mobile or tower businesses. Loop has declined to enter the upcoming spectrum auction, but has appealed to the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) to extend its Mumbai licence, offering to pay a market-determined price for its allotted 900MHz spectrum in the circle. The Mauritian-backed cellco emphasised that it was not relinquishing its right to extend its licence by sitting out of the tender.

Sandip Basu, managing director and CEO of Loop Mobile was quoted by Light Reading India as saying: ‘We believe that we have a good case before TDSAT and are likely to succeed in the matter and therefore are not participating in the auction process and we have kept TDSAT and DoT [Department of Telecommunications] informed about the same… Being one of Mumbai’s preferred operators, we will take all steps towards renewal of our license beyond November 2014 and thus sustain our continuity of service and assure our stakeholders especially subscribers regarding our ongoing commitment and investment in the business.’

TeleGeography’s GlobalComms Database notes that Loop was one of the hardest-hit of the companies impacted by the Supreme Court’s mass licence cancellation in February 2012, which revoked all the rights of Loop Mobile’s pan-Indian sister company Loop Telecom.

India, Bharti Airtel, Loop Mobile (inc. Loop Telecom),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share