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To: waitwatchwander who wrote (112040)	5/24/2012 3:03:46 PM
From: waitwatchwander	4 Recommendations Read Replies (2) of 117534

The deal, as reported, just doesn't make any sense. What else is new! We had 74% of the entity before the deal and now have 51%. It appears that we received no cash from the deal but must have gotten something for the noted dilution. Does $85M in extra equity funding account for our 23% reduction in equity value? That means we got no credit for putting up the funds for Tulip's deficiency and might well have to deal with that matter as a separate affair. It might well be that Bharti has committed to more fully fund the infrastructure build out but that's certainly not clear. It sure would be nice if Qualcomm could be a bit more transparent with the millions of dollars they slosh about.