Augere Wireless set to quit India and sell its 4G spectrum

France Telecom backed Augere Wireless is set to stop its Indian operations and sell off its 4G spectrum reports The Economic Times.  The French telecom company cites regulatory uncertainty which has forced its investors to give up on the country. Company executives have told ET that Augere has asked its Indian employees to resign.
Augere Wireless had acquired 4G spectrum for the states of Madhya Pradesh and Chhattisgarh and it awarded Ericsson the equipment contract to roll out its network. The company had paid about Rs 125 crore for its 4G permit in 2010. In October 2011, the company announced it would invest about Rs 270 crore over the next three to five years to roll out services in Madhya Pradesh and Chhattisgarh.
Augere Wireless is the second foreign 4G spectrum holder to be existing the mobile broadband space after Qualcomm reportedly entered talks with Airtel to sell of its 4G spectrum in four circles. However, Qualcomm had always maintained it will sell of its stake and exit the network business once it gets 4G spectrum.