Bharti Airtel is acquiring the telecom business of Loop comprising including its subscribers, telecom infrastructure and assets..The deal will be valued at Rs. 700 crore ($113 million), according to media reports..AZB & Partners acted for Loop Mobile with a team led by Mumbai Partner Abhijit Joshi along Senior Adarsh Varghese..Bharti Airtel was advised by its in-house team. The company’s General Counsel, Jyoti Pawar recently resigned to head the TMT practice at ELP’s Delhi office..As part of the deal, Bharti Airtel will get about 3.2 million subscribers of Loop Mobile, its retail outlets and 400-500 of its cellular towers, according to Business Standard.
