Airtel gets high court approval for merger of 4G arm

Written By Unknown on Minggu, 13 April 2014 | 23.25

l, in October 2013, acquired fully Wireless Business Services (WBSPL), a company founded by US chipmaker Qualcomm, by purchasing the rest 51 percent stake for an estimated cost of about Rs 1,000 crore.

Telecom major  Bharti Airtel today said it has got approval from the Bombay High court for amalgamating 4G spectrum holding firm Airtel Broadband Services with the company.

The court on April 11, 2014 has approved the scheme of the amalgamation of Airtel Broadband Services (ABSPL), formerly known as Wireless Business Services Pvt Ltd a wholly owned subsidiary with the company, Bharti Airtel said in a filing to the BSE.

Airtel, in October 2013, acquired fully Wireless Business Services (WBSPL), a company founded by US chipmaker Qualcomm, by purchasing the rest 51 percent stake for an estimated cost of about Rs 1,000 crore.

This company was later named as Airtel Broadband Services.

The telecom major had acquired a 49 percent stake in WBSPL in May 2012 for USD 165 million.

ABSPL 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 the Airtel closed at Rs 321.1 a piece, up by 0.45 percent, at BSE today.

Bharti Airtel stock price

On April 11, 2014, Bharti Airtel closed at Rs 321.90, up Rs 2.25, or 0.70 percent. The 52-week high of the share was Rs 373.50 and the 52-week low was Rs 271.50.


The company's trailing 12-month (TTM) EPS was at Rs 14.07 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 22.88. The latest book value of the company is Rs 135.70 per share. At current value, the price-to-book value of the company is 2.37.


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