According to a latest update, country's largest mobile phone service provider Bharti Airtel has acquired 49 percent stake in US-chipmaker Qualcomm's Indian unit holding 4G broadband wireless licenses. If reports are to be believed, the latest deal will finalize for $165 million (Rs 924 crore).

Reliable sources informed our team that the latest deal will involve Bharti to buy 26 percent stake equally held by Tulip Telecom and Global Holding Corporation apart from subscribing to fresh equity. 

After the latest deal, Airtel gets access to Qualcomm's broadband licences in four circles, including the two metro regions of Mumbai and Delhi. 

It is worth noticing, Bharti Airtel already had 4G permits in four circles of Kolkata, Karnataka, Punjab and Maharashtra and 3G licenses for 13 circles. Recently, it had added Kolkata and Bangalore for its 4G services. 

Market watchers added, with the latest acquisition, Bharti Airtel effectively gets a national foothold in broadband via a combination of 4G and 3G networks.

According to Sunil Mittal, Chairman and MD, Bharti Airtel, he is delighted to partner with Qualcomm. 

He further added, the partnership will combine the strength of Bharti's national telecom footprint and Qualcomm's technological leadership in the LTE TDD space. With a broadband ready network across India, Bharti is well positioned to lead the next phase of Indian's telecom revolution.  

Check out more IT news at itvoir.com