02:01 pm - Saturday 18 November 2017

Airtel acquires majority share in WBSPL, stake rises to 93.45 percent

By insightVAS - Fri Oct 18, 11:30 am

The largest telecom operator, Bharti Airtel has increased its stake to 93.45 percent in Wireless Business Service (WBSPL), a company founded by the chipmaker Qualcomm.

“As per the revised equity structure, Bharti Airtel holds 93.45 per cent and Qualcomm Asia Pacific holds 6.55 percent equity in the company,” sources said, citing a communication from WBSPL to the Department of Telecom.

No immediate comments were received from Airtel, which had earlier said it plans to completely acquire WBSPL by 2014. WBSPL holds 4G spectrum in four areas, including New Delhi. Airtel in July acquired a major share in WBSPL by increasing its stake to 51 percent from 49 percent.

WBSPL has spectrum that can be used for high-speed 4G services in New Delhi, Mumbai, Haryana and Kerala. Airtel has the similar spectrum in Punjab, Maharashtra, Kolkata and Karnataka.

Airtel has launched 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula.

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