Telecom major Bharti-Airtel plans to completely acquire US firm Qualcomm's Indian 4G venture, Wireless Business Services, by end of 2014.
"This is as originally planned. The event (2-percent stake share subscription) took place in this quarter, resulting in our stake in this business promoted by Qualcomm in India, going up 51 percent. As previously announced in May 2012, we plan to take our stake to 100 percent by end of next year," Bharti Airtel's group chief financial officer Sarvjit Singh Dhillon said on Wednesday.
Wireless Business Services (WBS) has won BWA spectrum, that can be used for 4G services, in four circles of Delhi, Mumbai, Haryana and Kerala. Airtel holds a 51-percent stake in the company, which was initially launched by chip maker Qualcomm.
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