Qualcomm Inc. (QCOM) recently received the regulatory approval in India to divest its remaining stake in Broadband Wireless Access (BWA) spectrum to the local operator Bharti Airtel.
In 2010, Government of India conducted a spectrum auction for both 3G network and broadband wireless access. Qualcomm paid $1.045 billion to obtain the BWA operating license in four major service areas of New Delhi, Mumbai, Kerala and Haryana.
Qualcomm initially planned to divest its full stake after creating a next-generation (4G) LTE (Long-Term Evolution) network to roll out super-fast broadband wireless access services. The fast-growing broadband market is attracting substantial investments for deploying LTE networks in India.
— Zacks Investment Research