Bharti Airtel Hikes Stake In Qualcomm's Wireless Business Service
[Editor: After Tulip Telecom Ltd, now Bharti Airtel Lts's Nxtra Data, a newly created arm of the company, is planning to add new data centres across multiple locations. Some news is also expected in Kavveri Telecom Ltd (Rs.29), in short term. Also, speculators can buy Crest Animation Studios Ltd (BSE Code: 4526785, CMP: Rs.3.53) at whatever price they get today]
Bharti Airtel has raised its stake in Qualcomm’s Wireless Business Service to 93.45% for R875 Cr, The Indian Express states.
Airtel had earlier acquired a majority stake in WBSPL in July by increasing its stake to 51% from 49%. It had acquired 49% stake in the company last year for $165 Mn. The company plans to completely acquire WBSPL by 2014.
Wireless Business Services is the JV formed between Qualcomm, Global Group and Tulip Telecom to offer Broadband services in India.
In August, Singapore telecommunications Ltd hiked its stake in Bharti Airtel to 32.34% from 30.76% investing around $302.2 Mn. Vodafone group was also in talks to sell its 4.4% stake in Bharti to comply with new licensing norms.
Qualcomm technologies are powering the convergence of mobile communications and consumer electronics, making wireless devices and services more personal, affordable and accessible to people everywhere.
NASDAQ listed Qualcomm is headquartered in San Diego, California and has an employee base of about 26,600 spread across 188 locations worldwide.
Recently, QUALCOMM purchased the assets of Eaton's Trucking Information Services business unit, including FleetAdvisor, a leading transportation logistics management system.
In this space, Vodacom, the African subsidiary of global telecom company, Vodafone, was likely to acquire Tata Communication's 68.5 % stake in South-Africa based fixed-line operator Neotel, for $500 Mn; Also, Abu Dhabi's Etisalat was in talks to acquire the Sri Lankan operations of Bharti Airtel, a deal which would value the company between $110 Mn and $130 Mn.
Courtesy: Deal Curry
