Airtel has reportedly abandoned its planned acquisition of Loop Mobile after failing to receive approval for the deal from India’s Department of Telecommunications.

The deal has been awaiting a regulatory greenlight since March, and evidently Airtel has lost patience.

Scrapping the deal creates a precarious situation for Loop and its subscribers, as the Mumbai-based operator’s licence expires at the end of November. Last month, it attempted to speed up the process by cutting its infrastructure from the agreement and including only its 3 million subscribers.

Evidently, this move was ineffective, and Loop’s subscribers will have to find a new provider in the face of its licence expiring.

 

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