Tele: Qualcomm eyes 4G service in India

US wireless technology giant Qualcomm is in talks with Indian network services company GTL to form a joint venture to deploy TD-LTE services in India, according to a report from the Economic Times.

Qualcomm, which is among 10 companies bidding for one of two 2.3 GHz blocks of broadband wireless access spectrum, allowing coverageacross the country’s 22 telecom circles, plans to take a 74% stake in the joint venture through a holding company in Asia, should it succeed in the auction, the Economic Times of India reported in April, quoting a person close to the deal.

Meanwhile, GTL will invest around Rs. 4 billion for a 24% holding and will have its nominees on the board, while data services firm Tulip Telecom is likely to have a 2% stake, the source added.