Loop Mobile has debt of Rs 400 crore (Rs 4 billion), which is likely to be included in final deal size.
This follows the expiry of its brand-use agreement with the BPL Group. The company, which faces an ownership battle between the Ruias of the Essar Group and the UK-based Vodafone, does not expect 'any issues' to arise from the change. "Loop is an extension of an ongoing campaign, Get in the Loop, and it will be easy for our subscribers to identify with this new brand name," said BPL Mobile Director and CEO Sanjeev Chachondia.
This is the first merger in the country's crowded telecoms market in nearly six years.
Agreement between Bharti Airtel and Loop Mobile, which offers mobile services in Mumbai, expired on October 31
Lenders, with Rs 600-cr exposure to telco, want it to sell properties to repay loans.
Delhi Police reconstructs the journey of Dr. Umar Nabi, accused in the Red Fort blast, using CCTV footage, revealing his movements from Haryana to Delhi and meticulous planning to avoid detection.
Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday.
The current termination charge is 10 paisa a minute.
The sources said such communication was "routine" in nature and had been sent by the CRPF security wing in the context of Gandhi's security in the past too.
LinkedIn experts and real-life stories offer hope that Indian tech talent can still thrive globally, even as the $100,000 H1B fee reshapes onsite opportunities.
Poor writing, unrealistic plot points, and weak performances drag Sarzameen down, sighs Syed Firdaus Ashraf.
Users are increasingly taking to dual-SIM handsets, which enable two connections on a single device.
Audiences will hope that Rajinikanth's Coolie, Lokesh Kanagaraj's action film and Rajkumar Hirani's Dadasaheb Phalke biopic are not marred by Aamir Khan's disconcerting, repetitive performances. Aamir's real strength lies in championing stories that challenge conventions and are considered risky by mainstream filmmakers.
'It was pitch-dark when we rounded Cape Horn. The waves were coming in full force. It was like a washing machine - -both of us and our boat Tarini.' Naval officer Lt Cdrs Dilna and Roopa describe their amazing voyage around the globe.
Old king cash may have to take a bow. Plastic credit may find itself redundant. And 40 per cent of people who do not have bank accounts could leapfrog into the banking space. With mobile wallets, that's the change they are gunning for.
Images from the Europa League semi-finals second leg between Manchester United and Athletic Bilbao, Tottenham Hotspur and Bodo/Glimt, on Thursday.
The ongoing arguments in the case remained inconclusive and would continue on August 5
The Central Bureau India (CBI) on Monday alleged before a special court that Essar Group of companies had created a "corporate veil".
Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel, Vodafone, Idea Cellular and Reliance Communications.
The Ministry of Corporate Affairs has asked the Department of Telecommunications to reconsider its decision to issue Mumbai-based Loop Telecom an all-India mobile services licence, suggesting the company had links with Essar Group that violate restrictions on telecom cross-holdings by groups.
Monsters from hell, time loops and time travel, magical realms and bomb threats, things are pretty action-packed on OTT this week, observes Sukanya Verma.
The company operates in 21 circles. Mumbai will be in exception, which has a separate licence.
Loop Telecom has been looking for a strategic investor for some time now and people close to the development said the telecom operator was willing to sell up to 45 per cent stake in the firm.
Loop got licences to offer mobile services in 21 circles by the telecom ministry run by Raja, now in jail, in 2008. Essar has investment in Loop; it also holds 33 per cent equity in Vodafone Essar, a big player in the sector.
The telco, being one of the first operators in the circle, has a strong base of high-value subscribers; Airtel could leverage that for its top-end services.
Besides Ruias, the CBI charged Essar Group director (strategy and Planning) Vikas Saraf, Loop Telecom promoters Kiran Khaitan and her husband I P Khaitan.
The Enforcement Directorate (ED) on Wednesday issued show causes notices for alleged foreign exchange violations of Rs 3,805 crore (Rs 38.05 billion) to telecom firms and other entities as part of its investigation into the 2G spectrum allocation case.
The government has announced starting auction in March for 2G spectrum that remained unsold in November auction.
Mirroring the growth in cellular services, the basic telecom including the WLL (mobile) services, has touched 31.82 lakh customers, with Reliance Infocomm leading the tally with 16.7 lakh at the end of June this year.
According to rating agency Fitch, India can in the long run support five-six profitable telecom operators.
It is not clear, however, whether the two players are considering a majority stake or would be content as investors with 26 per cent.
TDSAT has adjourned for a day the hearing on a petition filed on interconnect filed by cellular operators against basic players offering WLL.
After the success of its wireless-in-local loop (mobile) service, Reliance Infocomm on Tuesday launched another innovative communication product -- fixed phones sans any wire connection.
Belying perceptions that the cellular industry was incurring heavy losses due to wireless in local loop mobile telephony, Bharti Tele Ventures on Wednesday reported a net profit of Rs 31 crore (Rs 310 million) in the first quarter ended June 2003
The operator is planning to turn aggressive in adding subscribers.
Telecom operator Vodafone has been the top gainer of customers through mobile number portability facility while Reliance Communications is the biggest loser.
The SC had reserved its verdict on a bunch of similar petitions.
Amid the ongoing controversy on Wireless in Local Loop services, the limited mobility base of BSNL, MTNL and private operators has risen to 1.49 million, as on March 31, 2003 against 660,000 subscribers in the previous month.
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