iWorld

Bharti Airtel set to acquire Loop for Rs 700 crore

MUMBAI: India’s largest cellular carrier, Bharti Airtel, is set to acquire small mobile operator Loop Mobile for about Rs 300 crore, according to reports. This would be the first merger in six years in an industry long seen as ripe for consolidation.

 

Loop, which operates only in Mumbai with about three million subscribers, was up for grabs as a potential acquisition as its spectrum licence lapses on 28 November.

 

If Bharti completes the acquisition it will overtake Vodafone India and become the market leader in terms of customer numbers, although not by revenue in Mumbai - which is one of the biggest cellphone markets in India.

 

The deal - if it happens - would also see Bharti take on Loop’s debt of nearly Rs 400 crore.

 

Industry consolidation has been slow to take place in the world’s second-largest cellular market due to challenging merger rules, including a new requirement that the buyer pay separately for the target company’s airwaves based on prices determined at an auction.

 

Loop Telecom, an associate company of Loop Mobile, lost its permits in 21 of India’s 22 teleco service areas after the Supreme Court order on the 2008 wireless permits. Loop has denied any wrongdoing.

 

Loop’s main investor is Dubai-based Khaitan Holdings, whose founders are related to the founding family of Indian conglomerate Essar Group. Essar owns over a per cent in Loop.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/25/india-rio.jpg?itok=RX9g0Wr1
SonyLIV encourages the Rio Indian contingent with #WohHaareNahin

NEW DELHI: Success is a sheer refusal to accept failure, a dogged determination to break free from the shackles of one’s circumstances and a willingness to rise above oneself in pursuit of one’s dreams.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/25/OTT.jpg?itok=XPO5_9PU
Amagi launches live linear OTT playout patform on cloudport

MUMBAI: Amagi announced TV networks and content owners can now launch live and linear OTT channels on the cloud and operate a unified platform for linear, catch up and video-on-demand (VOD) TV without any hardware.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/25/Vikalp-Kumar.jpg?itok=FpTk9zbj
Last Minute Keys teams up with RippleDME for Online Marketing

NEW DELHI. Mobile-based marketplace solution that enables hotel bookings, Last Minute Keys has teamed up with RippleDME for online marketing.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/24/Kyle%20Okamoto.jpg?itok=Oao6Gq0Y
"We expect to grow with the OTT ecosystem in India" - Verizon Digital's Kyle Okamoto

The $132.1 billion US telecom giant Verizon Communications provides communications and entertainment services over mobile broadband and the US’ premiere all-fiber network, and delivers integrated business solutions to customers worldwide. More than that that it operates America’s most reliable...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/Untitled-1_14.jpg?itok=HwPdCW6c
YuppTV to exclusively air the USA T-20 series

Cricket lovers in the states, Canada and Caribbean Islands have a reason to rejoice. Leading OTT player for the South-Asian content, YuppTV has secured the exclusive broadcasting rights of the T20 matches to be held between team India and the current T20 world champions, West Indies.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/Untitled-1_2.jpg?itok=8TnmKX9m
Ditto TV sees more demand for regional content

MUMBAI: With an aim to be the default app on every internet enabled smartphone in India for content delivery, Zee’s dittoTV seems to have got its marketing pitch correct with #BeeskaTV and #DeshkaTV campaign. Poised to clock an annual revenue of Rs 150 crore (according to the statements in its...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/24/hungama%20connet%20brondband.jpg?itok=uvfHBTZ_
Hungama partners with Videocon's Connect Broadband

India's leading on-demand digital entertainment destination launched an exclusive entertainment service for Connect Broadband.

iWorld Broadband
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/22/5454.jpg?itok=7piAlbjB
TVF goes "Tripling" with Tata Tiago

Road tripping with your favourite people is bliss. We have all been there. Famous for its brainchild Pitchers and Permanent Roommates, YouTube’s series heavyweights The Viral Fever (TVF) has added a new feather to its hat.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/19/Untitled-1_8.jpg?itok=OPxEo54t
Digital Media awards, best practice case studies at WAN-IFRA India

Over 35 distinguished speakers from prime news media companies from around the globe will converge and share ideas on the future of news business at the upcoming WAN-IFRA India 2016 next month.

iWorld eNews

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories