Loop Mobile's employees fear losing job after Bharti Airtel acquisitio

Most of Loop Mobile's 750 employees, including some 400 under contract, fear they could be left without jobs as the Mumbai-based telco agreed to sell its customers and telecom infrastructure to India's largest mobile operator Bharti Airtel in the sector's first merger and acquisition deal since 2008.

Bharti Airtel said it has signed a "strategic agreement" to acquire Loop Mobile's three million subscribers and its 2G network comprising over 2,500 cell sites and optic fibre in the financial capital, subject to regulatory approvals.

Read the Economic Times news report here.