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5:23 AM
India's Largest Telecom Company Bharti Airtel will acquire small telecom player Loop Mobile in a deal of Rs.700 crore($113 million)..
Through this deal Bharti Airtel will get Loop's 3 million subscribers and assets like their 400 Towers, Optic Fibers,Electronic Equipments etc.
after this stragetic deal Sunil Bharti Mittal lead Telecom giant will become Largest Telecom player in Mumbai Circle with almost 7 million subscriber and will surpass Vodafone's Indian unit, which has nearly 6.9 million subscribers in Mumbai..
Loop Mobile started its operations in 1995 as BPL Mobile. Later in 2005, it was acquired by Dubai based Khaitan Holdings Group. and according to media reports Loop has debt of about Rs 400 crore which Khaitains will have to pay on their own. So, excluding the debt, Khaitans will make about Rs 300 crore from the deal..
Through this deal Bharti Airtel will get Loop's 3 million subscribers and assets like their 400 Towers, Optic Fibers,Electronic Equipments etc.
after this stragetic deal Sunil Bharti Mittal lead Telecom giant will become Largest Telecom player in Mumbai Circle with almost 7 million subscriber and will surpass Vodafone's Indian unit, which has nearly 6.9 million subscribers in Mumbai..
Loop Mobile started its operations in 1995 as BPL Mobile. Later in 2005, it was acquired by Dubai based Khaitan Holdings Group. and according to media reports Loop has debt of about Rs 400 crore which Khaitains will have to pay on their own. So, excluding the debt, Khaitans will make about Rs 300 crore from the deal..
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