Bharti Airtel has announced that it has signed a strategic agreement to purchase the business and assets of Mumbai-based wireless operator Loop Mobile. According to the Economic Times, Airtel will take control of Loop’s more than 2,500 cell sites along with the operator’s roughly three million subscribers. The takeover, which is subject to regulatory approvals, represents the first consolidation action since the flawed 2008 spectrum sale flooded the market with new operators. Under the terms of the deal, Loop’s subscribers will be transferred to Airtel when Loop’s licence expires later this year.
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