Bharti Airtel Stakes Goes to 51 % on Qualcomm

Published on: 05 Jul, 2013
Published under: Kerala Technology News

4 July 2013

India’s largest telecom operator Bharti Airtel Ltd has picked another 2 per cent in Indian wireless broadband venture of Qualcomm, which has broadband licences for Delhi, Mumbai, Haryana and Kerala, increasing its stake in the business to 51 per cent.

Assuming the current deal would value the firm at least as much as it was valued a year ago, Bharti Airtel may have put in over $6.7 million (Rs 40 crore). In May 2012, Bharti Airtel had acquired 49 per cent stake in NASDAQ-listed Qualcomm Inc’s Indian BWA (broadband wireless access) business. It had invested approximately $165 million in this deal.

Last year, Bharti Airtel said it will buy the remaining 51 per cent stake in the broadband venture by 2014 and Qualcomm will exit the venture. However, Qualcomm will provide technical assistance in areas like network architecture and optimisation, infrastructure and device testing. It will also help in developing and supporting the underlying technology and the LTE TDD ecosystem.

Source– http://www.vccircle.com/news/telecom/2013/07/04/bharti-airtel-hikes-stake-qualcomm%E2%80%99s-india-wireless-broadband-venture-51

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