India's Foreign Investment Promotion Board (FIPB) has finally given the approval for Qualcomm to invest in its Indian Broadband Wireless Access venture. According to an FIPB update from the Indian government, Qualcomm can invest up to Rs. 796.9 Crore in the business. The approval will allow Qualcomm to proceed with its plans to roll out Broadband Wireless Access services in four key circles in India, in partnership with telecom operators. Last year, Qualcomm, Ericsson & Reliance Industries had demonstrated LTE-TDD In India, but speculation has been rife about Qualcomm's plans to exit the business altogether. Qualcomm had brought in two Indian companies - Tulip Telecom and Global Holdings - into the venture, since it needed an Indian partner: foreign entites are allowed to own a maximum of 26% in telecom ventures in India. Qualcomm has won spectrum in Delhi and Mumbai, alongwith Kerala and Haryana, for the cost of Rs. 4912.54 crore for spectrum in four circles. Mumbai is its most expensive acquisition at Rs. 2292.95 crore View the Broadband Wireless Access spectrum auction results here. AETN18 Investment Approved In the media sector, A&E Television Networks, LLC, New York, USA has received an approval to subscribe to the equity shares of an Indian company engaged in up-linking and down-linking of Non-News and Current Affairs Channels in India, with an investment of Rs. 22.5 crore approved. Last year, Network18 and AETN had announced the formation of a 49:51 joint venture - AETN18 - which plans to launch HISTORY, BIO, Crime & Investigation Network…
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