Bharti Airtel shares fall post acquisition news of Loop Mobile

Business

oi-Sunil

By Sunil Fernandes

Updated: Tuesday, February 18, 2014, 10:59 [IST]

Markets were not impressed by Bharti Airtel's acquisition of Loop Mobile and the stock was down one per cent, even while stock markets were trading significantly higher. The shares of Bharti Airtel were last trading at Rs 303 on the National Stock Exchange.

Bharti Airtel Indias top telecom player, said that it had agreed to acquire smaller rival Loop Mobile - the first merger in the telecom sector in a long time.

Loop Mobile started its operations in 1995 as BPL Mobile. Subsequent to the change of shareholding in 2005, the Khaitan Holdings Group took ownership control.

In 2009, the brand name changed from BPL Mobile to Loop Mobile.

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