Tulip Telecom to buy 13% in Qualcomm's India arm

Tulip Telecom Ltd. (Tulip), one of India’s largest Enterprise Data Service providers, today announced a strategic partnership with Qualcomm Inc. for a Broadband Wireless Access (BWA) venture. Subject to Government approvals, Qualcomm will have a 74% stake in the venture, while Global Holding Corporation (GHC) and Tulip will hold 13% each, in compliance with applicable Indian Foreign Direct Investment regulations. Tulip’s investment in this venture for the 13% stake will be approximately Rs. 1,400 million.



In the recently concluded BWA auction, Qualcomm had won a slot of 20 MHz TDD spectrum in key telecom circles of Delhi, Mumbai, Haryana and Kerala. Qualcomm’s objective is to facilitate the deployment of LTE which is best suited to address the demand for high bandwidth mobile broadband services in the 2.3 GHz band, and seamlessly interworks with current and upcoming 3G HSPA and EV-DO networks.