Swan Telecom is ready to acquire mobile licences held by Allianz Infratech, reports the Economic Times.

Having already acquired licences to operate in 13 of the 22 telecom zones in India, Swan will expand its services in two more circles if this deal is finalised. Allianz had applied for pan-India licences, but was permitted to launch its services only in two circles, Madhya Pradesh and Bihar. Allianz is backed by four individuals - aviation entrepreneur Ajay Singh, Ashish Singh, Praveen Singh and Ashish Deora - each holding 25 per cent of the company.

Swan managing director Shahid Balwa revealed that Swan would make an acquisition to expand its services in India, but refused to give further details. X