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Bharti Airtel to buy stakes in Qualcomm for Rs. 850 Crores

For the couple of years Bharti Airtel has been in constant competition with Reliance Industry that offers 4G technology-based broadband network. To give Airtel another boost of this competition, they have acquired 49 per cent of stake in Qualcomm’s broadband venture for $165 million (Approx. Rs. 850 Crores).

Bharti Airtel

Bharti Airtel

By 2014, they will have full control of the said company. With this, Airtel will have access to greater markets in Delhi and Mumbai where currently dominated by RIL. When it comes to broadband license, the Airtel already has four mainly in Karnata, Punjab, Kolkata and Maharashtra.

Qualcomm Logo

Qualcomm

Also they have 3G licences in 13 circles in India. They will surely be closer to their competitor with the addition of Qualcomm’s broadband services. According to Charman and Managing Director of Airtel, Mr Sunil Bharti Mittal, the partnership of the two companies would combine both their strength that will definitely lead them to leadership in the telecom and broadband industry.

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