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Telecom major Bharti Airtel on Thursday announced it has acquired 100 per cent stake in Wireless Business Services (WBSPL), a company founded by U.S. chipmaker Qualcomm. The company had acquired a 49 per cent stake in WBSPL in May 2012 for $165 million. At that price, the additional stake purchase would have cost Airtel an estimated $165 million, or Rs. 1,008.1 crore at Friday’s exchange rate. However, the company did not disclose the financial details of the deal. In a statement, Airtel said that it has “completed the acquisition of 100 per cent equity shares of Wireless Business Services Private Limited, which holds BWA Spectrum in the Indian telecom circles of Mumbai, Delhi, Haryana and Kerala”. Airtel acquired a majority stake in WBSPL in July by increasing its stake to 51 per cent from 49 per cent. WBSPL has spectrum that can be used for high-speed 4G services in New Delhi, Mumbai, Haryana and Kerala. Airtel has the similar spectrum in Punjab, Maharashtra, Kolkata and Karnataka. Airtel has already launched 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula. Shares of Airtel were trading at Rs. 353.80, up by 1.46 per cent, in the afternoon session at BSE.
Delhi users please note: Your Airtel pos...

Delhi users please note: Your Airtel postpaid bill will go up by 12% from D...

EW DELHI: Country’s biggest telecom operator Airtel has announced an increase in its postpaid monthly charges by about 12% in select plans, effective December in Delhi NCR region. “Effective Dec 3 2014, bill plan rental for your Airtel mobile will be revised from Rs 199 per month to Rs... read more »

One World Trade Centre opens for busines...

One World Trade Centre opens for business

NEW YORK, Nov 4 – One World Trade Centre, America’s tallest building, on Monday welcomed its first tenants, publishing group Conde Nast, in a symbolic moment 13 years after the 9/11 attacks that brought down the original Twin Towers. About 175 executives of the group that publishes magazines... read more »

All units at VSP back in action: RINL

All units at VSP back in action: RINL

VISAKHAPATNAM: Rashtriya Ispat Nigam Limited (RINL) on Sunday said production has been restored at all units of the Visakhapatnam Steel Plant (VSP), which was affected by Cyclone Hudhud. In a release, RINL said the revival of raw material handling facilities, coke ovens, blast furnaces and SMS-1... read more »

Gold, silver likely to trade lower; copp...

Gold, silver likely to trade lower; copper may rise

Global markets traded mixed in the last fortnight as the US Fed’s decision to wind up its bond buying programme acted as a boost for equities wherein the Dow Jones gained by around two per cent. Equities in the euro zone and Japan traded lower due to weak sentiment, acting as a negative... read more »

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