Bharti Airtel has hiked its stake in Wireless Business Services (WBSPL), a company founded by US chipmaker Qualcomm, to 93.45% for around Rs 875 crore. Following the acquisition, Bharti Airtel holds 93.45%, while Qualcomm Asia Pacific holds 6.55% equity in the company
Earlier, in May 2012 Airtel acquired 49% stake in WBSPL for $165 million and subsequently it increased the stake to 51% from 49% in July this year.
WBSPL holds 4G spectrum in four areas, including New Delhi and it has spectrum that can be used for high-speed 4G services in New Delhi, Mumbai, Haryana and Kerala. Airtel has the similar spectrum in Punjab, Maharashtra, Kolkata and Karnataka. Airtel has launched 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula.
