Qualcomm Sale of Indian BWA Licenses Cleared by Regulator
Published on: 29th Mar 2014
Note -- this news article is more than a year old.
Qualcomm has received approval to sell its remaining stake in it's Indian BWA spectrum holding company to Bharti Airtel. Qualcomm paid just over USD1 billion for the licenses in the auctions of 2010.
Qualcomm sold a 49% stake in the holding company to Bharti Airtel for around USD165 million in May 2012. Since then it has steadily increased its holdings, and has a long term plan to take full ownership of the company.
Last October it raised its stake to 93.45 percent, and now has full ownership of the holding company.
The Department of Telecommunications (DoT) has now approved the deal after the law ministry said the sale didn't violate the 2010 auction rules. There had been some doubt about whether the sale could include the associated ISP license as well as the spectrum.
Qualcomm's licenses cover Delhi, Mumbai, Haryana and Kerala, while Bharti has BWA licenses in four circles - Kolkata, Karnataka, Punjab and Maharashtra - and 3G licenses in thirteen circles in India.
With this agreement, Bharti has secured a near nation-wide broadband capability in 18 circles.