Bharti increases stake in Qualcomm India to 51%

4 Jul 2013

India’s largest wireless operator by subscribers and sole Long Term Evolution (LTE) provider Bharti Airtel has increased its stake in Qualcomm’s Indian operations by 2%, bringing its ownership of the chipmaker’s four wireless broadband firms to 51%, Reuters reports. Bharti purchased 49% of the shares in the companies in May 2012 for INR9.07 billion (USD150.68 million), but did not specify the value of the recent stake increase. The four entities have become Bharti Airtel subsidiaries as a result of the transaction, a statement from the cellco noted. According to TeleGeography’s GlobalComms Database, in 2010 Qualcomm won broadband wireless access (BWA) spectrum in four circles; Delhi (2305MHz-2325MHz), Mumbai (2305MHz-2325MHz), Kerala (2325MHz-2345MHz) and Haryana (2362.5MHz-2382.5MHz).

India, Bharti Airtel, Qualcomm (India)