Bharti Airtel is in advanced discussions with US chipmaker Qualcomm to buy its fourth-generation licences for about Rs 6,000 crore, an acquisition that will allow the country's largest telecom firm to quickly launch 4G services in the key markets of Delhi and Mumbai.
A person familiar with the development said the deal is likely to be closed by June and will be accompanied by technology agreements between Qualcomm and Bharti. Fourth-generation, or 4G, services offer users Internet access at three times the speed of 3G and require broadband airwaves.Qualcomm, which had won airwaves in four regions - Mumbai, Delhi, Haryana and Kerala - in the broadband wireless auction of 2010 for Rs 4,900 crore, had begun talks to sell its 74% stake in its Indian joint venture to Bharti later that year.But the talks were put on hold after the telecom department cancelled the US chipmaker's mobile broadband permits last year on the grounds that it had not applied for licences within three months of the auction.
Bharti Airtel in talks to buy 4G licences from Qualcomm for about Rs 6000 crore - The Economic Times
A person familiar with the development said the deal is likely to be closed by June and will be accompanied by technology agreements between Qualcomm and Bharti. Fourth-generation, or 4G, services offer users Internet access at three times the speed of 3G and require broadband airwaves.Qualcomm, which had won airwaves in four regions - Mumbai, Delhi, Haryana and Kerala - in the broadband wireless auction of 2010 for Rs 4,900 crore, had begun talks to sell its 74% stake in its Indian joint venture to Bharti later that year.But the talks were put on hold after the telecom department cancelled the US chipmaker's mobile broadband permits last year on the grounds that it had not applied for licences within three months of the auction.
Bharti Airtel in talks to buy 4G licences from Qualcomm for about Rs 6000 crore - The Economic Times