Bharti Airtel buys out Qualcomm stake in 4G broadband JV

Bharti Airtel Ltd, India's top telecommunications carrier, said on Friday it had bought out Qualcomm Inc's stake from a fourth-generation (4G) broadband joint venture in the country, taking full ownership of the business more than a year earlier than planned.

Bharti did not say how much it paid for increasing its stake to 100 percent from 51 percent in Wireless Business Services Pvt Ltd, a venture founded by Qualcomm. The Indian group paid $165 million for a 49 percent stake last year, and bought 2 percent more earlier this year.

[caption id="attachment_928791" align="alignleft" width="380"] Qualcomm paid nearly $1 billion in a 2010 auction for the airwaves that facilitate high-speed wireless Internet. Reuters[/caption]

Bharti was to increase its stake to 100 percent by end-2014, both companies said last year.

Qualcomm paid nearly $1 billion in a 2010 auction for the airwaves that facilitate high-speed wireless Internet.

The venture, which holds 4G airwaves in four of India's 22 telecommunications zones, has yet to start commercial services.

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Bharti separately holds 4G airwaves in four other zones and has started services in some cities.

Reuters