Advertisement

HindustanTimes Fri,11 Jul 2014

Bharti Airtel to buy Loop Mobile in $113 million deal: reports

Reuters  New Delhi, February 17, 2014
First Published: 10:49 IST(17/2/2014) | Last Updated: 12:45 IST(17/2/2014)

India's top cellular carrier Bharti Airtel Ltd will acquire Loop Mobile in a 7-billion-rupee deal that may be announced this week, Indian reported on Monday.

Advertisement

The deal will be on a slump sale basis, the paper said, quoting sources involved in the deal, and Bharti will get Loop's 3 million subscribers, about 400 telecom towers and optic fibre and electronic equipment on which Loop's network currently runs, the Economic Times said.

The deal will make Bharti the largest telecoms operator in the Mumbai circle with about 7 million subscribers, ahead of rival Vodafone's Indian unit.

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


Advertisement
more from Business

Infosys Q1 net up 21.6%; attrition rate at 19.5%

India's second largest software exporter Infosys has beaten estimates to report a 13.3% rise in net revenue at Rs 12,770 crore and 21.6% rise in net profit at Rs 2,886 crore for the first quarter of 2014-15 on year-on-year basis.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved