Chennai-based industrialist C. Sivasankaran is learnt to be in talks with the Ruias of the Essar Group to purchase a 49 per cent stake in Loop Telecom, which owns mobile telephony licences in 21 circles. According to sources, Sivasankaran will purchase the stake in his individual capacity, by subscribing to a fresh issue of shares in the unlisted Loop Telecom. He will not be going through Siva Ventures Limited, his investment vehicle that is normally used for stake-acquiring purposes. Sivasankaran is currently a minority investor in Tata Teleservices Limited and holds a controlling stake in S Tel.
