Qualcomm to Sell Spectrum and Develop India NetworkThursday, May 31, 2012
New Delhi-based Bharti Airtel Ltd. will acquire 49 percent of certain Indian businesses held by Qualcomm Inc. for $165 million, the two companies announced recently.
Qualcomm Asia Pacific holds businesses with licenses covering wireless spectrum in the cities of Delhi, Mumbai, Haryana and Kerala. Mumbai, India’s largest city, was formerly known as Bombay.
Reuters reported that Qualcomm spent nearly $1 billion to buy the Indian 4G spectrum during a 2010 auction. The term 4G refers to a very fast wireless data service.
The two companies said they expect Bharti will own 100 percent of the Indian businesses by the end of 2014. Going forward, Qualcomm said it expects to work with Bharti to develop Bharti’s wireless broadband network.