Bharti Airtel hikes stake in Qualcomm’s broadband ventures to 51%
04 Jul 2013
Bharti Airtel has increased its stake in Qualcomm's boroadband ventures from 49 per cent to 51 per cent, to own a majority stake in the entities.
''The company has subscribed to an additional 2 per cent equity share capital in all the four India BWA entities of Qualcomm AP,'' Bharti Airtel said in a media statement.
With this all four entities are now subsidiaries of Bharti Airtel, it added.
Airtel acquired a 49 per cent stake in the broadband ventures owned by Qualcomm AP on 24 May 2012.
Qualcomm AP's India outfits hold licences in Delhi, Mumbai, Haryana and Kerala, although these entities have not yet launched broadband services in their respective circles.
Bharti Airtel shares rose 2 per cent to Rs300 after the company said it has subscribed to an additional 2 per cent equity share capital in all the four India BWA entities of Qualcomm AP.
The stock opened at Rs294 and touched a high of Rs301 on BSE. About 1.5 million shares have changed hands on the BSE and the NSE till noon.