Augere Wireless, which had won 20Mhz of spectrum in the state of Madhya Pradesh in India’s Broadband Wireless Auction last year, and had plans to roll out commercial LTE services under its under its ZOOSH brand, across 14 cities in Madhya Pradesh and Chhattisgarh, is looking to sell its 4G spectrum, and exit from the Indian market, reports The Economic Times. According to the report, the main reason for the company's decision is its inability to raise fresh funding from domestic and international investors following regulatory uncertainty over the telecom sector, after the Supreme Court's decision cancelling 2G licences and the TRAI recommendations on fresh auctions and refarming of spectrum. Augere Wireless CEO Lars Henrick Stork, told ET that the company had halted all operational activities and had asked employees to go on leave as it was reassessing its plans for the Indian market and will take 4-6 weeks to reconsider its India plans. However, he did not comment on whether the company was in talks with other players for selling its 4G licence. Augere had received an approval from India’s Foreign Investment Promotion Board (FIPB) for Foreign Direct Investment worth Rs 54 crore in October 2011, and had announced a partnership with Ericsson for its 4G/TD- long term evolution (TD-LTE). Augere paid Rs 124.66 crore for spectrum in that one circle in the BWA auction. The initial roll out of its 4G service was likely to take place by second quarter of 2012 while the company was expecting a complete roll out by 2013. However, the rollout has been…
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