12:20 pm - Friday 20 October 2017

Airtel hikes stake in Qualcomm’s India venture

By insightVAS - Fri Jul 05, 10:37 am

In all the four Indian broadband wireless access (BWA) entities of Qualcomm, the largest telecom operator in terms of user base, Bharti Airtel has acquired an additional 2 percent stake and made them its subsidiaries. 

“Bharti Airtel has subscribed to an additional 2 percent equity share capital in all the four India BWA entities of Qualcomm AP. With this, all four entities are now subsidiaries of Bharti Airtel,” the company said in a statement.

On May 24, 2012, Bharti Airtel and Qualcomm had announced an agreement under which Bharti had acquired 49 percent interest in Qualcomm AP’s India entities with licences to offer 4G data services in four circles of Delhi, Mumbai, Haryana and Kerala.

Airtel had won spectrum for high-speed broadband service in four telecom services areas of Kolkata, Maharashtra, Punjab and Karnataka in 2010, paying Rs 3,314.36 crore for it. In addition, the stake purchase in Qualcomm’s BWA venture would aid the Sunil Bharti Mittal-led group to offer services in eight circles.

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