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harti Airtel Buys Majority of the stocks in Qualcomm's units in India : Bharti Airtel is buying most of shared in Qualcomm's India Units here we give details below. Bharti Airtel Ltd. 532454.BY -1.76% Thursday became the majority shareholder in the Indian units of broadband Qualcomm Inc. QCOM -0.43% after the purchase of an additional 2% in the business.
The case comes as Indian telecom operators, including Bharti betting big on broadband to boost profit growth after years of bleeding from the hyper competition in the category of traditional voice calls. He also stressed that Bharti plans to increase the bulk of the profits of these companies. Its stake in some of its divisions and joint ventures
Major cities of India - as well as Haryana and Kerala in Qualcomm ₩ 2,010 bandwidth of wireless high-speed broadband in Delhi and Mumbai will offer. It has contributed more than $ 1 billion from the spectrum licenses. San Diego, Calif., chipmaker later formed four separate joint ventures for each of these areas, while maintaining 74% of the shares of each company, while in India, Global Holding Corporation Pvt. Ltd. and Tulip Telecom Ltd. 532691.BY 4.71% each in them 13%.
On Thursday, Bharti told the transaction during the four companies owned by Qualcomm will now be business units. Bharti currently has 51% in each of these four companies.
Both companies, however, no financial details of the transaction giving. In May 2012, Qualcomm sold a 49% stake in Bharti four companies to leave the company. As part of its plans. At the time, New Delhi telecommunications company said it would occupy units Qualcomm late 2014, when starting commercial activities.
The largest telecom company in India by the user already has a license to provide wireless broadband in four areas - Kolkata, Karnataka, Maharashtra and Punjab and services introduced in some of these areas.
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