BHARTI AIRTEL TO ACQUIRE LOOP MOBILE FOR 700 CRORE INR AND GET 3 MILLION SUBSCRIBERS

3 MILLION USERS FOR 700 CRORES - BHARTI AIRTEL - LOOP MOBOILE DEAL

Telecom major Bharti Airtel on Tuesday announced to buy business and assets of Loop Mobile in Mumbai under a strategic agreement.

The company did not disclose the size of deal but sources close to the agreement said it is for about Rs 700 crore.

Under the agreement, Loop Mobile's 3 million subscribers in Mumbai will join Airtel's over 4 million subscribers, making it a largest network in the metropolitan city, according to a statement by Bharti Airtel.

Under the proposed transaction, Loop Mobile's 2G-enabled network supported by 2,500 plus cell sites will also become part of Airtel's network which has over 4,000 cell sites at present.The agreement will ensure continuity of services to Loop Mobile's subscribers, whose licence is expiring in November, with option to access Airtel's services.

As part of the deal, Bharti Airtel will get Loop's 3 million subscribers, about 400 telecom towers, optic fibre connecting the towers, and electronic equipment on which the Loop's network currently runs, they said. Loop's subscribers will thus continue to get uninterrupted services despite the company's licence expiring in September. About a third of Loop customers are highly valued post-paid subscribers, who generate higher revenues than the pre-paid ones that dominate the country's telecom user base.

Let us see how much this deal will be beneficial for Bharti Airtel . What do you have to say about this deal...?? Give your comments below.Your feedbacks are valuable.