US-based mobile chip maker Qualcomm is seeking to sell its Indian wireless broadband business for about Rs50bn (US$1.1bn), reported the Economic Times.
The company reportedly approached several large Indian mobile phone operators to sell the licences in…
US-based mobile chip maker Qualcomm is seeking to sell its Indian wireless broadband business for about Rs50bn (US$1.1bn), reported the Economic Times.
The company reportedly approached several large Indian mobile phone operators to sell the licences in four of the country’s circles it acquired in June for about US$1bn.
According to the newspaper, Qualcomm told potential buyers that they would have to use the spectrum in question only to offer Long Term Evolution-based (LTE) services.
Back in July, Tulip Telecom and Global Group, both of India, announced an alliance with Qualcomm to roll out wireless broadband in India. The US company set up the venture in which it offered a stake of up to 26% to the local partners. At the time, it had already planned to exit the venture after rolling out the network.
The Economic Times wrote that the chip maker has always said it does not want to become an operator, but is looking to create in India a platform for the development of its LTE technology.
Qualcomm did not respond to requests for comment before going to press.
