Loop Telecom opens talks with Zain and Telenor

2 Sep 2008

Indian news source Business Standard is reporting that two international telecoms groups, Kuwait-based Zain and Norway’s Telenor, are in talks with Loop Telecom relating to the acquisition of a strategic stake in the Mumbai-based cellco; it has not been revealed whether the two companies are considering a majority stake. Loop Telecom, a subsidiary of BPL Mobile, was one of seven operators to receive a pan-Indian licence in January 2008, allowing the operator to offer services in 21 circles; Loop has been allocated spectrum in six circles so far. The news comes amid reports that several international companies have considered investment in the Indian telecoms sector, with cellcos including Unitech, Datacom and Swan all reporting approaches. It is understood that Qatar Telecom, Etisalat and Bahrain Telecom are three of the international firms interested in entering the market.

India, Loop Mobile, Telenor Group, Zain Group