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Airtel Says No Deal, Pulls The Plug On The Agreement With Loop Mobile

Sulabh PuriNov 5, 2014, 16:14 IST

We had reported in February that Airtel would be buying Loop Mobile. The deal was set at $ 114 million according to Surya Mahadevan, COO Loop Mobile. The deal would have got Airtel millions of subscribers and expanded its reach further.

However, Airtel has pulled out of the deal and is not going ahead in any manner. It is said that the regulatory did not give the approval to them and Airtel has quickly manage to opt out of the deal. This was a major merger between the flourishing Airtel and Loop Mobiles, which would have strengthened Airtel’s spread. The dreams to get hold of some nice Telecom equipment and lot of subscribers has been broken for them.

Airtel should now focus a bit more on getting ready for the 4G war, which should begin in early 2015. As Reliance is gearing up to bring 4G in a big manner in India.