Bharti Airtel in talks with Loop Mobile for overtaking the co. Loop Mobile has operations only in Mumbai and has about 3 million customers. Currently, Airtel has a national subscriber base of over 190 million. Airtel had 4.1 million customers in Mumbai at the end of September and was ranked third in terms of subscribers.
Bharti telecom likely to buy Loop Mobile for Rs 750 Cr.
Loop Mobile has debt of Rs 400 crore, which is likely to be included in final deal size.
Loop has about 2,000 operational mobile tower sites, of which 500 are company-owned.
The addition of Loop's customer base would make Airtel the top operator in Mumbai, where Vodafone is currently the market leader with 6.8 million customers.
Reliance Jio Infocomm a Mukesh Ambani co. applied to participate in the spectrum auction and bid for the scarce 900 MHz band.
The government plans to auction 16 MHz of spectrum in the 900 MHz band each in Delhi and Mumbai and 14 MHz in Kolkata. Applicants have to bid for a minimum of 5 MHz.At the base price, 5 MHz of spectrum will cost Rs 1,800 crore in Delhi, Rs 1,640 crore in Mumbai and Rs 625 crore in Kolkata.
Sources:- http://articles.economictimes.indiatimes.com/2014-01-16/news/46264497_1_loop-mobile-mhz-spectrum-auction