US technology group Qualcomm has successfully wooed Global Holding and Tulip Telecom to join the shareholding of its Indian radio spectrum holding company. This follows its recent win of licences across four of the country’s circles.
Assuming government…
US technology group Qualcomm has successfully wooed Global Holding and Tulip Telecom to join the shareholding of its Indian radio spectrum holding company. This follows its recent win of licences across four of the country’s circles.
Assuming government approval, Qualcomm will be the majority shareholder with a 74% holding, while towers group Global Holding and connectivity provider Tulip Telecom will each own 13%, complying with FDI regulations.
“Our objective was to secure initial shareholders who are operator-neutral, yet bring strong telecom and broadband experience, and we are extremely pleased we met that objective with Global Holding Corporation and Tulip Telecom,” stated Kanwalinder Singh, president of Qualcomm India and South Asia and senior vice president of Qualcomm.
“With our initial shareholders, and operators we intend to bring into the venture in the future, Qualcomm will facilitate accelerated deployment of LTE in concert with 3G HSPA and EV-DO networks, which protects and enhances the significant investment made by Indian operators in securing 3G and BWA spectrum.”
In the recent auction, Qualcomm won one slot of 20 MHz TDD spectrum in the 2.3 GHz band, which covers Delhi, Mumbai, Haryana and Kerala. The company has indicated it plans to deploy LTE in the 2.3 GHz band.