Tulip Telecom and Global Group, both of India, are expected to announce an alliance with US mobile phone chip manufacturer, Qualcomm, to roll out broadband wireless in India tomorrow, according to Dow Jones Newswires.
“The signing of the final agreement…
Tulip Telecom and Global Group, both of India, are expected to announce an alliance with US mobile phone chip manufacturer, Qualcomm, to roll out broadband wireless in India tomorrow, according to Dow Jones Newswires.
“The signing of the final agreement is well on track and an announcement will be made on Friday,” said one person who declined to be named.
Qualcomm recently won bandwidth to offer broadband wireless in four service areas of Delhi, Mumbai, Kerala and Haryana at a cost of more than US$1bn.
The proposed network will be LTE technology-based, offering high-speed broadband and high-end multimedia services.
Dow Jones reports that Qualcomm has set up a venture in which it will offer a stake of up to 26% to one or more local partners and plans to exit the venture after rolling out the network. It was suggested that Qualcomm may invest up to US$300m in equity in the venture.
The Indian government had allowed foreign firms to bid for spectrum licenses, but they could only offer services through an Indian firm, in which the foreign firm would be disallowed from owning more than 74%.
Qualcomm was not available to comment and Tulip and Global declined to comment on the record.
