Bharti Airtel buys 49 percent of Qualcomm’s India businessMay 24th, 2012 - 9:13 pm ICT by IANS
New Delhi, May 24 (IANS) India’s leading telecom service provider Bharti Airtel has acquired 49 percent stake in US-based chipmaker Qualcomm’s broadband wireless access (BWA) entities in India, investing almost $165 million, to expand its high-speed data services.
The company already has BWA licences in four circles - Kolkata, Karnataka, Punjab and Maharashtra - and 3G licences in thirteen circles in India. Qualcomm has BWA licences in Delhi, Mumbai, Haryana and Kerala.
With this agreement, Bharti has secured a nation-wide broadband leadership through a combination of 4G and 3G, with its own networks in 18 circles. The firm is also the first operator to have launched its 4G services in the country. It has launched 4G services in Kolkata and Karnataka.
“Bharti has made an initial investment of approximately $165 million to acquire 49 percent interest in Qualcomm AP’s India entities partly by way of acquisition of 26 percent equity interest equally held by Global Holding Corporation Private Limited and Tulip Telecom Limited, and the balance by way of subscription of fresh equity in those entities,” the company said in a statement Thursday.
“The agreement contemplates that once commercial operations are launched, subject to certain terms and conditions, Bharti would assume complete ownership and financial responsibility for the BWA entities by the end of 2014,” it added.
Qualcomm had paid $1 billion to acquire licences in four circles - Mumbai, Delhi, Haryana and Kerala - in the BWA auction held in 2010.
- Qualcomm to get BWA spectrum shortly: DoT - Apr 19, 2012
- Qualcomm to get license after clearing Rs.410 crore dues - Feb 24, 2012
- Bharti Airtel to launch 4G services in Kolkata - Apr 03, 2012
- Sibal to launch Bharti Airtel's 4G services Tuesday - Apr 09, 2012
- Huawei to manage Bharti Airtel's 4G network in Karnataka - May 01, 2012
- Qualcomm sells 26 percent stake to Global Holding and Tulip - Jul 30, 2010
- Airtel launches 4G services in Kolkata, first in India - Apr 10, 2012
- Qualcomm's Indian arm to sell 26 percent stake - Jul 29, 2010
- 4G, 3G to grow parallelly in India: Ericsson - Sep 01, 2011
- Airtel unveils 4G service in Bangalore - May 07, 2012
- DoT rejected application for internet license: Qualcomm - Sep 22, 2011
- Sibal launches 4G, admits 3G has 'not successful' (Lead) - Apr 10, 2012
- Bharti Airtel launches 4G services in Bangalore - May 07, 2012
- India's broadband airwaves auction to fetch $8.6 billion (Roundup) - Jun 11, 2010
- India reaps billions from BWA auction, biggies stay away (Lead) - Jun 11, 2010
Tags: 4g, bharti airtel, broadband wireless access, business new, circles, commercial operations, equity interest, financial responsibility, haryana, high speed data, high speed data services, india business, initial investment, kerala, maharashtra, private limited, punjab, qualcomm, telecom limited, telecom service provider