Qualcomm (NASDAQ:QCOM) has won a reprieve in its battle to hold onto its wireless broadband licenses it purchased last year for $1.5 billion from India's BWA auction.
India's Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has accepted an appeal from Qualcomm that blocks a decision by the Department of Telecom to cancel the license applications. Qualcomm has paid for the licenses but they have not been formally transferred to the company. The department claims that Qualcomm was late in filing its paperwork. Qualcomm denies that claim.
The next hearing is scheduled for Oct. 20.
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.
For more:
- see this Cellular-News article
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