Bharti Airtel Ltd. on 4 July 2013 became the majority shareholder in
the Indian broadband units of Qualcomm Inc. Qualcomm in 2010 had won
bandwidth to offer high speed wireless broadband services in Delhi and
Mumbai, Haryana and Kerala. It had paid an amount of more than 1 billion
US dollars to secure the spectrum and licenses.
Qualcomm formed four separate joint ventures for each of those areas,
and retained a 74 percent stake in each venture, whereas India's Global
Holding Corporation Pvt. Ltd. and Tulip Telecom Ltd. took 13 percent
each in them.
With the new development in place, all four companies held by Qualcomm will now become the Bharti Airtel’s units. Bharti Airtel now owns 51percent in each of those four companies.
With the new development in place, all four companies held by Qualcomm will now become the Bharti Airtel’s units. Bharti Airtel now owns 51percent in each of those four companies.
In May 2012, Qualcomm had sold a 49 percent stake in the four
companies to Bharti. Bharti Airtel already has licenses to offer
broadband wireless in four service areas namely Karnataka, Punjab and
Maharashtra and Kolkata and the company has launched services in some of
those areas.
Bharti Airtel is India’s largest company. It is based in New Delhi.
Qaulcomm is based in San Diego, California. It is the world leader in
next-generation mobile technologies. It was established in July 1985.
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