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Airtel Increases Stake In Qualcomm’s Indian 4G Biz To 51%

Bharti Airtel has acquired an additional 2% equity share capital in all the four India BWA entities of Qualcomm AP taking Airtel's stake to 51% in Qualcomm's broadband company. This gives Airtel a controlling stake in Qualcomm AP's India BWA entities. Note that Qualcomm AP’s India entities hold BWA licences in Delhi, Mumbai, Haryana and Kerala. The financial details of the agreement has not been disclosed yet. In May 2012, Airtel had made an initial investment of approximately $165 million (Rs 927.39 crore approx) to acquire 49% interest in Qualcomm’s India entities. Bharti holds BWA licenses in four circles – Kolkata, Karnataka, Punjab and Maharashtra and it offers 4G service in Bengaluru, Pune, Chandigarh, Kolkata, Mohali and Panchkula. Qualcomm BWA Timeline June 2010: Qualcomm had won BWA spectrum in four circles including Delhi, Mumbai, Kerala and Haryana for Rs. 4912.54 crore, with Mumbai being the costliest circle for the company at Rs 2292.95 crore. July 2010: Qualcomm brought in India-based Tulip Telecom and Global Holdings as its LTE rollout partners for $28 million since foreign companies are allowed to own a maximum of 26% in telecom ventures in India. Qualcomm applied for an ISP license to offer Internet services with four partner companies namely Wireless Broadband Business Services (Delhi), Wireless Broadband Business Services, Wireless Broadband Services (Kerala) and Wireless Broadband Business Services (Haryana). December 2010: Qualcomm along with Ericsson had demonstrated LTE TDD at 2.3 GHz in Gurgaon, India. The demo live streamed multiple high definition video feeds to a mobile van in Gurgaon, using Qualcomm chip-set based USB dongles. Jan 2011: India’s Foreign Investment Promotion…

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