The network is used by all the UK’s emergency services, with deals worth around £4.7bn to Airwave.
The sale brings to an end a disposal process started last December. Telefónica didn’t see Airwave as a core business to the group.
Since the acquisition of O2 by Telefónica, Airwave has continued to develop its business, securing additional contracts with the Fire and Rescue Services across the UK, the Scottish and Welsh Ambulance Services, London Underground, Channel Tunnel Rail and other public safety agencies.
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It has also just secured its first overseas contract, in Norway. “Now that Airwave's network rollout has been substantially completed and execution on its major contracts is underway, Telefónica believes it is the appropriate time for it to realise the value created in the Airwave business,” said Telefónica.
“This transaction underpins Telefónica's commitment to maintain financial discipline and manage actively the group's portfolio of assets, starting with the disposal of TPI last year, the sale of Airwave now and the process currently underway to dispose of its remaining stake in Endemol,” Telefónica said.
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