Qualcomm to sell Indian BWA Business

The broadband wireless spectrum (BWA) winner, Qualcomm, is exiting the business. The company had won the spectrum for four circles at Rs.4,912 crore. Since regulations bar sale of spectrum, Qualcomm will sell its company. Qualcomm intends to keep the LTE-LD flag, rival to Intel's WiMax, flying even after its exit. Since regulations cap foreign investment at 74%, Qaulcomm had divested 26% stake to GTL Infrastructure and Tulip Telecom for Rs.268 crore.