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Qualcomm Finalizes Indian Partners for LTE Joint Venture

Qualcomm has finalized initial shareholders for its LTE (Long Term Evolution) services venture in India. Qualcomm will have a 74 percent stake in the venture, while two Indian companies — Global Holding Corporation and Tulip Telecom — will hold 13 percent each. Tulip said in a filing to the Bombay Stock Exchange that it will be investing about 1.4 billion Indian rupees (US$30 million) The deal still requires government approval, Qualcomm said. Indian government rules limit foreign direct investment in telecommunications service providers to 74 percent.”]

Source: https://www.csoonline.com/article/2125546/qualcomm-finalizes-indian-partners-for-lte-joint-venture.html

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