O2 considering sale of Airwave – report
Mobile operator O2 is considering selling Airwave, the national police radio network it developed in the UK, reports The Times. The company has hired banks to consider options for the business. While the review process has yet to start, potential bidders such as private equity groups are already emerging, according to the paper’s sources. Texas Pacific Group, owner of the former France Telecom broadcast unit TDF, is considered a possible buyer for Airwave. Analysts estimate the business is worth up to GBP 2 billion, based on estimated EBITDA of GBP 72 million in 2005. The Tetra network has around 3,000 masts and 150,000 users, covering 99 percent of mainland Britain. A spokesman for O2 declined to comment on the possible sale.
