Bharti Airtel acquires 100 percent stake in Qualcomm's 4G company, WBSPL

Telecom major Bharti Airtel Friday
announced it has acquired 100 per cent
stake in Wireless Business Services
(WBSPL), a company founded by US
chipmaker Qualcomm.

The company had acquired a 49
percent stake in WBSPL in May 2012
for USD 165 million.

At that price, the additional stake
purchase would have cost Airtel an
estimated USD 165 million, or Rs. 1,008.1
crore at today's exchange rate.
However, the company did not disclose
the financial details of the deal.

In a statement, Airtel said that it has
"completed the acquisition of 100 per
cent equity shares of Wireless Business
Services Private Limited, which holds
BWA Spectrum in the Indian telecom
circles of Mumbai, Delhi, Haryana and
Kerala".

Airtel acquired a majority stake in
WBSPL in July by increasing its stake
to 51 percent from 49 percent.
WBSPL has spectrum that can be used
for high-speed 4G services in New
Delhi, Mumbai, Haryana and Kerala.
Airtel has the similar spectrum in
Punjab, Maharashtra, Kolkata and
Karnataka.

Airtel has already launched 4G services
in Bangalore, Pune, Kolkata,
Chandigarh, Mohali and Panchkula.
Shares of Airtel were trading at Rs.
353.80, up by 1.46 percent, in the
afternoon session at BSE Friday.