Bharti Airtel has raised its stake in Qualcomm AP’s Indian broadband wireless access (BWA) entities to 51 per cent by acquiring an additional two per cent stake.
However, the financial terms for the additional stake were not disclosed.
With this acquisition, all the four Qualcomm entities – that hold BWA spectrum - have now become subsidiaries of the Indian company, it said in statement.
On May 24, Bharti Airtel had acquired a 49 per cent stake in Qualcomm AP’s India entities that held licences to offer 4G services in Delhi, Mumbai, Haryana and Kerala.
Bharti Airtel acquired a 26 per cent stake held by two Indian partners - Global Holding Corporation and Tulip Telecom - and the remaining by subscribing to fresh equity.
At present, the GSM operator is providing 4G services in four circles (Kolkata, Maharashtra, Punjab and Karnataka) where it had spectrum during the 2010 auctions.
Qualcomm, the US-based chipmaker, had also won 4G spectrum during the auctions three years ago.
Bharti Airtel’s shares closed higher by 2.38 per cent at Rs 301.25 on the BSE, after the announcement.
rajesh.kurup@thehindu.co.in
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.