On May 24, 2012, Bharti Airtel and Qualcomm had announced an agreement under which Bharti had acquired 49 per cent interest in Qualcomm AP's India entities with licences to offer 4G data services in four circles of Delhi, Mumbai, Haryana and Kerala.
Shares of Bharti Airtel reacted positively to the announcement and surged 2.34 per cent to touch an early high of Rs. 301.15 on the BSE today.
Airtel had won spectrum for high-speed broadband service in four telecom services areas of Kolkata, Maharashtra, Punjab and Karnataka in 2010, paying Rs. 3,314.36 crore for it.
In addition, the stake purchase in Qualcomm's BWA venture would aid the Sunil Bharti Mittal-led group to offer services in eight circles.