Qualcomm (NASDAQ:QCOM), which was in jeopardy of forfeiting its broadband wireless access licenses it won in India for $1 billion, has been granted its licenses.
Qualcomm has paid for the licenses but they were not formally transferred to the company. The Department of Telecom claimed that Qualcomm was late in filing its paperwork. Qualcomm denied that claim.
Qualcomm won four BWA licenses, including the two key markets of Delhi and Mumbai. In July 2010, the company announced Global Holding Corporation and Tulip Telecom as initial shareholders for its India LTE Venture.
While Telecoms Secretary R. Chandrashekhar has now approved the licenses, he maintains that Qualcomm filed the paperwork incorrectly and should not have filed an application per circle, but for the entire company as a whole.
- see this Cellular-News article
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