Loop allocates USD75 million for Mumbai expansion (India)

www.WirelessFederation.com/news: Loop Mobile (formerly BPL Mobile) has reportedly allocated USD75 million for expansion of its operations in Mumbai. The telco said it hopes to use the funds to assist in its aim of doubling its subscriber base in the circle by the end of this fiscal year.

Sandip Basu, Loop’s CEO, said, ‘We have an aggressive plan to invest around USD50-75-million in Mumbai this fiscal. The investment would be to increase our network.’ Loop ended June with a subscriber base of 2.3 million in Mumbai.