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Merger And Acquisitions | September 06, 2013
#38758

Airtel may buy Mumbai-based Loop Mobile

To acquire Mumbai-based Loop Mobile, Bharti Airtel is in the race. Loop Mobile is one of Mumbai's oldest cellular network firms. Loop Mobile company's owners, Dubai-based IP Khaitan and family want to exit the telecom sector, say media reports.    

Airtel's acquisition of the Loop will help it to become the leader in Mumbai in terms of number of subscribers, thus propelling it to the top slot in the key metros of Delhi and Mumbai. It is reported that the talks may be going for some time and the final deal is dependent on clarity on guidelines governing mergers and acquisitions in the telecom sector.

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