\n
Public sector banks have the maximum exposure to Loop Mobile and the company’s inability to honour its commitments will cause a loss to the government, the Department of Telecommunications (DoT<\/a>) said in an internal note, seen by ET.
\n
\nBharti Airtel had announced the deal initially in February. The companies didn’t announce the value of the deal, but sources with knowledge of the matter said it was worth about Rs 700 crore. Loop’s promoters, Dubai-based Khaitan family, plan to use a part of the proceeds to repay debt.
\n
Under the deal between the companies, Loop would transfer its subscribers to Bharti Airtel. But the telecom sector<\/a> regulator had written to DoT saying that the contours of the deal would trigger mobile number portability (MNP), meaning that Loop’s customers must be given an opportunity to decide which operator they want to migrate to.
\n
\n“Since Airtel is only buying a part of the company and not the liabilities, it is not correct to transfer the subscribers in such a deal without taking their consent,” a senior official at the Telecom Regulatory Authority of India told ET. Loop’s permit to provide services in the Mumbai, the only telecom circle where it operates, expires in this November. It didn’t participate in an auction earlier this year to retain its spectrum.
\n
\nExplaining why the government needs to give an approval, DoT has said in the note that the proceeds from the deal would be used to repay loans and statuary dues, as well as pay off trade creditors and liabilities. It also said the Rs 1,500 crore invested by the promoters till date will be written off.
\n
\nPost acquisition, Bharti Airtel's customer base in Mumbai would go up to seven million after adding close to three million subscribers on Loop. Loop will also transfer its more than 2,500 cell sites in the city to the New Delhi-based company’s existing 4,000-strong network. Loop's customers are higher paying - on an average Rs 225 compared with Rs 195 for Bharti based on December-quarter results.
\n
\nThe companies are awaiting regulatory approvals before going ahead with the closure of the deal.\n\n<\/body>","next_sibling":[{"msid":38870544,"title":"2G money laundering case: Court reserves order on bail pleas","entity_type":"ARTICLE","link":"\/news\/policy\/2g-money-laundering-case-court-reserves-order-on-bail-pleas\/38870544","category_name":null,"category_name_seo":"policy"}],"related_content":[],"msid":38870957,"entity_type":"ARTICLE","title":"DoT accelerating approvals for Bharti-Loop deal","synopsis":"The telecom department is fast-tracking approvals for Bharti Airtel\u2019s deal to buy Loop Mobile\u2019s assets despite objections raised by the sector regulator","titleseo":"policy\/dot-accelerating-approvals-for-bharti-loop-deal","status":"ACTIVE","authors":[{"author_name":"Anandita Singh Mankotia","author_link":"\/author\/479231328\/anandita-singh-mankotia","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479231328.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":false,"msid":479231328,"author_name":"Anandita Singh Mankotia","author_seo_name":"anandita-singh-mankotia","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":false,"artdate":"2014-07-22 18:10:10","lastupd":"2014-07-23 08:27:37","breadcrumbTags":["policy","DoT","Bharti Airtel","telecom sector","regulator","bharti Loop"],"secinfo":{"seolocation":"policy\/dot-accelerating-approvals-for-bharti-loop-deal"}}" data-authors="[" anandita singh mankotia"]" data-category-name="Policy" data-category_id="19" data-date="2014-07-22" data-index="article_1">
新德里:电信部门审批提速Bharti Airtel的收购循环移动的资产,尽管反对提出的部门监管机构,因为它想要确保循环能够偿还债务,政府文件显示。
公共部门银行的最大暴露于循环移动和该公司无法履行承诺将造成损失政府,电信部门(点)在一份内部报告中称,被等。
Bharti Airtel最初在2月份宣布这笔交易。公司没有宣布这笔交易的价值,但知情人士说,这是价值约700卢比。循环的推广者,迪拜比家庭,计划使用的一部分收入来偿还债务。
在公司之间的协议下,循环将转移其订阅者Bharti Airtel。但是,电信部门监管机构所写点说,这笔交易将触发手机号码可移植性的轮廓(MNP),这意味着循环的客户必须被给予一个机会来决定哪些运营商他们想迁移到。
“既然Airtel只是购买该公司的一部分,而不是负债,这是不正确的将用户在未经他们同意这样一笔交易,”一位高级官员在印度的电信监管机构告诉ET。循环的孟买允许提供服务,只有电信圈运作,将在今年11月到期。今年早些时候它没有参与拍卖保留其频谱。
解释了为什么政府需要给予审批,点在报告中说,这笔交易所得将用于偿还贷款和雕像费,以及偿还贸易债权人和债务。它还表示,投资1500卢比的推动者,直到日期将被注销。
收购,Bharti Airtel在孟买的客户群会上升到七百万年增加近三百万用户后循环。循环也将转移其超过2500细胞网站在新德里公司现有的4000名网络。循环的客户更高支付-平均Rs 225而Bharti基于Rs 195年第四季度的结果。
两家公司正在等待监管部门的批准之前关闭交易。
公共部门银行的最大暴露于循环移动和该公司无法履行承诺将造成损失政府,电信部门(点)在一份内部报告中称,被等。
Bharti Airtel最初在2月份宣布这笔交易。公司没有宣布这笔交易的价值,但知情人士说,这是价值约700卢比。循环的推广者,迪拜比家庭,计划使用的一部分收入来偿还债务。
在公司之间的协议下,循环将转移其订阅者Bharti Airtel。但是,电信部门监管机构所写点说,这笔交易将触发手机号码可移植性的轮廓(MNP),这意味着循环的客户必须被给予一个机会来决定哪些运营商他们想迁移到。
“既然Airtel只是购买该公司的一部分,而不是负债,这是不正确的将用户在未经他们同意这样一笔交易,”一位高级官员在印度的电信监管机构告诉ET。循环的孟买允许提供服务,只有电信圈运作,将在今年11月到期。今年早些时候它没有参与拍卖保留其频谱。
解释了为什么政府需要给予审批,点在报告中说,这笔交易所得将用于偿还贷款和雕像费,以及偿还贸易债权人和债务。它还表示,投资1500卢比的推动者,直到日期将被注销。
收购,Bharti Airtel在孟买的客户群会上升到七百万年增加近三百万用户后循环。循环也将转移其超过2500细胞网站在新德里公司现有的4000名网络。循环的客户更高支付-平均Rs 225而Bharti基于Rs 195年第四季度的结果。
两家公司正在等待监管部门的批准之前关闭交易。
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