Qualcomm's 4G licences on block, Bharti may buy

Bharti Airtel is in talks to buy Qualcomm's yet-to-be launched broadband wireless access (BWA) licences in India, reports The Economic Times.

Qualcomm India took part in the BWA auction last year and got licences for four markets (Mumbai, Delhi, Kerala and Haryana) for Rs 4,912 crore. It may now seek a premium over this from Bharti. The valuation of the deal is likely to be around USD 1.2-1.3 billion, with a premium of 25-30%, the report added. The deal, if it goes through, will give Bharti BWA spectrum in eight circles (at present, it has BWA licences for Maharashtra, Karnataka, Kolkata and Punjab), ET stated. While the US-based chip maker refused comment on specific deals, it has always maintained that its India strategy is to add value to its business and exit at the right stage.
 
Source: The Economic Times