Indian mobile operator Bharti Airtel and Qualcomm have signed an agreement for Airtel to acquire an interest in Qualcomm Asia Pacific's Indian wireless broadband (BWA) entities. Under the agreement, Airtel is paying USD 165 million to acquire a 49 percent interest in Qualcomm AP's India entities, which hold BWA licences in Delhi, Mumbai, Haryana and Kerala, partly by acquiring 26 percent equity from Global Holding and Tulip Telecom, and the balance by way of subscription of fresh equity in those entities. The agreement contemplates that once commercial operations are launched, Airtel will assume complete ownership and financial responsibility for the BWA entities by the end of 2014. Airtel said the deal gives it nationwide broadband leadership through a combination of LTE and 3G, with its own networks in eighteen regional circles.
