Airtel to acquire 100% stake in Qualcomm's 4G venture by 2014

Subscribe to GoodReturns

Airtel to acquire 100% stake in Qualcomm's 4G venture by 201
Telecom giant, Bharti Airtel with 51 per cent stake in US firm Qualcomm's Indian 4G venture, Wireless Business Services, has planned to completely acquire the firm by end of next year.

"We plan to take our stake to 100 per cent by end of next year," Bharti Airtel, Group Chief Financial Officer, Sarvjit Singh Dhillon, told media.

He further added that this acquisition is originally planned, the event (2 per cent stake share subscription) took place in this quarter, resulting in our stake in this business promoted by Qualcomm in India, going up 51 per cent.

Moreover, Wireless Business Services (WBS) has won BWA spectrum that can be used for 4G services, in four circles of Delhi, Mumbai, Haryana and Kerala.

Besides, Bharti Airtel also has 4G spectrum in four service areas of Maharashtra, Karnataka, Kolkata and Punjab. However, it is providing only high-speed 4G mobile Internet services in Kolkata, Bangalore, Pune and Chandigarh.

Read more about: bharti airtel
Story first published: Thursday, August 1, 2013, 9:32 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?