Bharti Airtel likely to acquire Loop Mobile - report [Global Data Point]
(Global Data Point Via Acquire Media NewsEdge) Indian mobile operator Bharti Airtel has emerged the frontrunner to acquire Loop Mobile, reports The Economic Times citing multiple sources aware of the negotiations. Loop's shareholders have been in discussions with Airtel for some time, and talks have gathered momentum in recent weeks, the paper said. A final deal depends on clarity over the government's new guidelines for mergers and acquisitions in the telecommunications sector and the renewal fee for Loop's licence, before discussions begin on the valuation and other commercial terms. Loop's licence expires in September 2014; it has 8 MHz of spectrum in the 900 MHz band. Bharti Airtel and Loop Mobile declined to comment. Loop had over 3 million customers at the end of July.
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