Partners to invest $58 mln in Qualcomm India JV
NEW DELHI, July 30 |
NEW DELHI, July 30 (Reuters) - Qualcomm (QCOM.O) said on Friday Global Holding Corp and Tulip Telecom (TULP.BO) would each invest $28.86 million for the 13 percent stake that each would take in its India broadband venture.
Qualcomm spent about $1 billion to buy wireless airwaves in a recent auction in India. The company is betting that ownership of the airwaves in India will boost sales of advanced cell phones and the chips that power them. [ID:nSGE65F029] (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)
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