Qualcomm sells Indian JV stake to Bharti Airtel

|About: Qualcomm Inc. (QCOM)|By:, SA News Editor

Indian carrier Bharti Airtel says it has bought Qulacomm's (QCOM -0.1%) 51% stake in a JV that owns valuable 4G spectrum licenses. Deal terms haven't been disclosed.

Qualcomm sold a 49% stake in the JV to Bharti last year for just $165M, after paying $1B for the licenses in 2010. As desired by Qualcomm, Bharti will use the spectrum to build a 4G network with a TD-LTE air interface. TD-LTE offers more downlink capacity in urban areas than FDD-LTE interfaces, which are used in most current 4G builds.