A deal to create the largest operator in Mumbai is under threat, as Loop Mobile looks at how to speed approval from the country’s Department of Telecommunications (DoT), according to The Economic Times.
Loop is offering to transfer only its subscribers to Bharti Airtel as part of the proposed deal, and not its mobile network assets as well. It hopes the offer will speed up the slow-moving approval process.
The deal for Bharti Airtel to acquire Loop was first unveiled back in February, but approval has moved slowly. There is now was not enough time to include network equipment as part of the deal before Loop’s licence in Mumbai expires on 29 November.
The deal would add about four million of Bharti’s subscribers in Mumbai to about three million from its smaller rival, which operates only in the city.
The deal has had a far from smooth ride, with DoT expressing a concern over the deal in September.