iWorld
×

Bharti Airtel set to acquire Loop for Rs 700 crore

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/internet-images/2014/02/17/bharti_airtel.jpg?itok=t3tBVSo-

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/2018/01/23/chanpreet.jpg?itok=kJP74MtU
Chanpreet Arora appointed CEO of Vice Media India

Vice Media India has a new sheriff in town. Chanpreet Arora has been appointed as the CEO of the company and is working from the Vice office in Delhi.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/Salil_Kapoor.jpg?itok=Vnf7S5Vp
Hooq to maintain its Hollywood focus in India

MUMBAI: Content differentiates the platform and hook the consumers. To become a differentiator, VoD platform Hooq differentiated its offering by not diluting its energy into various verticals.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/amazon.jpg?itok=6wIkDXEO
Amazon Prime Music ties up with Saregama

Amazon announced its partnership with Saregama to stream the label’s catalog of 117,000 tracks on Amazon Prime Music when the ad-free music streaming service launches in India.Saregama has one of the largest and the most coveted Indian music selections across multiple Indian languages. It offers a...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/hotstar.jpg?itok=IJq0RunE
Leaving a Job is never easy, Hotstar gives you the best ways to #QuitInStyle

In a field as exciting and opportunity-abundant as technology, a job that’s mediocre, mundane or downright mechanical just won’t cut it anymore. But, there’s never really an easy way to say goodbye. Is there? With its new #QuitInStyle series, Hotstar, India’s leading premium streaming platform,...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/20/FilmStruck.jpg?itok=er1h7VMN
Turner International announces SVOD service FilmStruck

MUMBAI: Turner International’s Digital Ventures & Innovation (DV&I) Group and Warner Bros Digital Networks (WBDN) have announced a joint venture to launch a new, multi-territory movie-streaming service called FilmStruck.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/20/Mukesh-Ambani.jpg?itok=SLjRR2PE
RIL's Rs 2.35 lakh crore investments in Jio start to payoff

BENGALURU: Mukesh Dhirubhai Ambani-run Reliance Industries Ltd (RIL) has invested a massive amount of money into the largest start-up in the world–Reliance Jio Infocomm Ltd (Jio). The RIL financials for the quarter ended 31 December 2017 (Q3 2018, quarter under review) showed that its digital...

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/inter_1.jpg?itok=e6sfDxjG
Intertrust and Jjadooz announce partnership to deliver virtual reality experiences to indian cinemas

Intertrust Technologies Corporation, the world’s leading provider of digital rights management and secure content delivery solutions, and Jadooz, a provider of Virtual Reality (VR) content, today announced a partnership to bring the first of its kind VR entertainment to cinemas in mid-size cities...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/RISHI.jpg?itok=2Yq_k4lB
Times Bridge invests in MUBI streaming service

MUMBAI: The investment arm of the Times of India group, Times Bridge, and Danish film-maker Nicolas Winding Refn have invested in specialty streaming service MUBI. The terms of the deal remain undisclosed but are understood to be similar to the revised arrangements under which China’s Huanxi Media...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/TiVo.jpg?itok=Y8Typygf
TiVo's new deal with Google includes YouTube TV

MUMBAI: TiVo Corporation, a global player in entertainment technology and audience insights, today announced that Google has expanded its multi-year patent licence agreement to include YouTube TV. The agreement covers Google’s use of TiVo’s patented technologies worldwide and offers a license for...

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories