Augere, an India-based owner of fourth-generation broadband airwaves in one of India’s 22 telecoms zones, has reportedly stopped operational activities and is set to sell its airwaves due to regulatory uncertainties, according to news provider Economic Times
Augere, which also owns airwaves in Pakistan, Bangladesh, Uganda, Rwanda and Tanzania, named Harbinger Capital, France Telecom, New Silk Route and Vedanta Opportunity Fund as its principal shareholders on its LinkedIn page.
Harbinger, which separately saw its LightSquared telecoms company file for bankruptcy this month after a $2.9bn investment, acquired a quarter of Augere in late 2009 for $50m.
Sanjiv Ahuja, Augere’s founder and executive chairman, had previously been chief executive of France Telecom’s global mobile business, Orange.
Ahuja stepped up from being chief executive when David Venn joined in June last year.