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Bharti Airtel to acquire Loop Mobile for INR 7 bln

2014-06-24 08:18:00| Telecompaper Headlines

(Telecompaper) Bharti Airtel has signed a definitive agreement to acquire its smaller rival Loop Mobile's subscribers, as well as some of its assets, for about INR 7 billion. The deal is subject to regulatory approvals and was first announced in February. Loop Mobile operates only in the Mumbai circle. As part of the deal, Bharti Airtel will take over around 3.2 million subscribers of Loop Mobile, its retail outlets and 400-500 of its cellular towers. The addition of Loop customers is expected to increase Bharti's user base in Mumbai to over 7.3 million, the highest in the circle.

Tags: mobile loop acquire inr

Category:Telecommunications

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