Qualcomm may sell stake in Tulip

Mobile phone chipmaker Qualcomm, which has bagged spectrum for offering broadband wireless access services in a few circles, is learnt to have finalised a deal to sell a stake to telecom networking firm Tulip.

Mobile phone chipmaker Qualcomm, which has bagged spectrum for offering broadband wireless access services in a few circles, is learnt to have finalised a deal to sell a stake to telecom networking firm Tulip.

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When contacted Kanwalinder Singh, president of Qualcomm, India and South Asia, said, “We cannot comment on our partner strategy and related details at this point.”

A Tulip Telecom spokesperson in an email statement said, “As a company policy we do not comment on any such speculation. We will update once we have an official announcement.”

The BSE-Tulip has a market cap of Rs 2,507.92 crore.