Bharti Airtel is in discussion to acquire Mumbai-based Loop Mobile. The deal will give the telecom major around 3 million customers of Loop Mobile. Loop, which owns a mobile telephony licence for the Mumbai circle, holds 8 megahertz of spectrum in the premium 900 MHz band, which as per latest base price, is valued at Rs 2,624 crore.
A successful deal will reduce the number of claimants for the premium 900 MHz band in the Mumbai service area. Airtel had 4.1 million customers in Mumbai at the end of September and was ranked third in terms of subscribers.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
