Bharti Airtel has confirmed that it will buy a 49% stake in Qualcomm’s Indian wireless broadband units for $165 million.
The stake will be broken down by an acquisition of 26% from Qualcomm’s local partners Global Holding Corporation and Tulip telecom, with the remaining 23% being acquired directly.
Bharti Airtel issued a statement that read the move will give it control to offer 4G services in Delhi, Mumbai, Haryana and Kerala. The services will be offered in the 2.3GHz frequency band, and will be based on TD-LTE technology. Airtel first launched this technology in Calcutta, India last month, and prior to the Qualcomm acquisition, Airtel owned and operated 4G BWA licenses in four out of 22 Indian circles.
Bharti Airtel will fully own Qualcomm’s units by the end of 2014, subject to additional terms and conditions.