Sources claim that Vodafone is in discussions with India’s Khaitan Group, which has owned Loop Mobile since 2005.
The family-run Khaitan Group has been looking to sell the mobile operator for some time, and it is expected to be valued at $500 million.
Loop Mobile is active in the 900MHz spectrum band, but its licences will expire in September this year. Sources have said that a deal with Vodafone is based largely on the ability to renew these licences.
A successful deal would boost Vodafone’s presence in Mumbai and follows reports last year that the British company was increasing its investment in the country.
A spokesperson for Loop Mobile has reportedly described the reports of a deal as “speculation”, but the company is thought to be exploring licence-renewal options.
Vodafone has not commented on the reports.
