Mumbai: Bharti Airtel, India's biggest mobile phone carrier said on Thursday it had signed a pact to buy a 49 percent stake in Qualcomm Inc's fourth-generation (4G) broadband venture in the country for USD165 million.

Bharti will buy a 26 percent stake held by two Indian partners in the Qualcomm broadband venture and the remaining by subscribing to fresh equity, the company said in statement, sending its shares up as much 6.9 percent.   

Qualcomm, which spent nearly USD1 billion to buy 4G airwaves in a 2010 auction, had sold a total 26 percent stake to Global Holding Corp and Tulip Telecom for about USD58 million to comply with the sector's foreign holding rules.


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