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AZB Mumbai bags Loop telco mandate in Airtel’s $100m+ acquisition

Loop: Big(ish) in Bombay
Loop: Big(ish) in Bombay

AZB & Partners Mumbai is advising Loop Telecom, which is being acquired by Bharti Airtel that is handling the legal work in-house.

AZB senior partner Abhijit Joshi is acting for Loop with senior associate Adarsh Verghese.

It is understood that Bharti is handling the deal through its in-house legal team.

Bharti is set to acquire 3.2 million Loop subscribers in the Mumbai region and some of the telecom company’s assets in the deal that is pegged at around Rs 700 crore, according to the Business Standard and other media reports.

Bharti Airtel is also currently in the process of buying Essar Telecom’s Kenya-based network Safaricom for around $100m, according to press reports.

AZB’s Delhi office has been a long-standing adviser to Bharti Airtel, having acted on its mega-takeover of the African Zain mobile phone empire for more than $10bn in 2010 alongside Herbert Smith Freehills and Linklaters.

Photo by Dipankar Dutta

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