After yesterday’s report, Airtel has just confirmed that they would acquire Loop Mobile, to become the largest mobile network in Mumbai, by subscribers. It already has 4 million customers in the circle and would add the existing 3 million subscribers from Loop Mobile along with the 2G cell sites in the circle. It would offer 3G, 4G, airtel money, VAS and domestic/international roaming facilities for the Loop Mobile customers.
Regarding the existing Loop Mobile subscribers in the circle, Airtel said,
Loop Mobile subscribers will continue to enjoy quality services with access to wider network coverage, retail distribution as well as innovative products from Airtel’s portfolio including 3G, 4G and airtel money.
Loop Mobile’s license expires this September and it did not extend their license in the recent spectrum auction. It is not clear if the transition would happen before September.
The proposed transaction will bring together
- Loop Mobile’s 2G/EDGE enabled network supported by 2,500 plus cell sites
- Airtel’s 2G and 3G network supported by over 4000 cell sites
- 220 retail outlets
It did not reveal how much the deal is worth, but the recent report revealed that it’s a Rs. 700-crore deal. Airtel has 289 million customers in 20 countries and is ranked as the fourth largest mobile services provider in terms of subscribers.