TRAI sets Nov 29 as deadline for porting out Loop customers

Written By Unknown on Jumat, 07 November 2014 | 23.25

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

Telecom regulator TRAI has fixed midnight of November 29 as deadline for subscribers of Loop Mobile to shift to other networks while retaining their numbers by using the MNP facility.

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

The Telecom Regulatory Authority of India today directed Mobile Number Portability service provider "not to process the request for porting in respect of mobile telephone numbers belonging to Loop Mobile...as donor operator after 23:59:59 hours of 29th November".

It has also agreed to the demand of Loop Mobile of providing with bulk MNP codes to transfer its over 10 lakh customer base in Delhi before its licence expires on November 29. TRAI has allowed Loop Mobile to use an additional service provider code 'F' in addition to its existing code 'L' to enable it to generate more than 5 lakh codes at a time.

Telecom major Bharti Airtel  this week called off the deal to acquire business and assets of Mumbai-based Loop Mobile including subscribers for about Rs 700 crore, pending clearances by the Department of Telecom.

DoT estimates that Loop Mobile and its sister concern Loop Telecom owe about Rs 808 crore in spectrum and other charges to the government.

Bharti Airtel stock price

On November 07, 2014, Bharti Airtel closed at Rs 390.50, up Rs 5.20, or 1.35 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.


The company's trailing 12-month (TTM) EPS was at Rs 27.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 14.25. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.34.


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