Bharti Airtel raises its stake in Wireless Business Services

Bharti Airtel has increased its stake in Wireless Business Services (WBSPL) to 93.45 per cent.

The company was established by Qualcomm to bid for BWA licences, and paid just over US$1 billion in the 2010 spectrum auction.

"As per the revised equity structure, Bharti Airtel holds 93.45 per cent and Qualcomm Asia Pacific holds 6.55 per cent equity in the company," sources told the Financial Express, citing a communication from WBSPL to India’s telecom department.

Qualcomm sold a 49 per cent stake in the holding company to Bharti Airtel for around US$165 million in May 2012. Since then the Indian telco has steadily increased its holdings, and has a long-term plan to take full ownership of the company.

The company has BWA licences that cover Delhi, Mumbai, Haryana and Kerala, while Bharti has BWA licences in four circles – Kolkata, Karnataka, Punjab and Maharashtra – and 3G licences in thirteen circles in India.