Bharti Airtel has inked a definitive agreement with Loop Mobile to acquire the latter's operations in Mumbai.
The signing of the agreement is a result of an announcement made by Bharti Airtel, in February 2014, that it would buy the business and assets of Loop Mobile in Mumbai, under a strategic agreement. However, the agreement is yet to obtain regulatory approvals.
As per the agreement, Loop Mobile's subscribers in Mumbai will join Airtel's subscribers. Further, Loop Mobile's 2G-enabled network, supported by 2,500 plus cell sites, have also become part of Airtel's network, which has over 4,000 cell sites at present.
The definitive pact will also ensure continuity of services to the subscribers of Loop Mobile -- whose licence is expiring in November 2014 -- with an option to access Airtel's services.