Qualcomm sells 49% interest in Indian entities to Bharti
Clients Qualcomm Incorporated
Jones Day advised Qualcomm Incorporated ("Qualcomm"), a world leader in 3G and next-generation mobile technologies, and Qualcomm Asia Pacific Pte. Ltd. ("Qualcomm AP") in the announced agreement for Bharti Airtel Limited ("Bharti") to acquire an interest in Qualcomm AP's Indian BW entities.
Under the agreement, Bharti is to acquire a 49% interest in Qualcomm AP's India entities that hold Broadband Wireless Access licenses and spectrum in four circles in India, including Delhi and Mumbai. The agreement contemplates that once commercial operations are launched, subject to certain terms and conditions, Bharti would assume complete ownership and financial responsibility for the BWA entities by the end of 2014.