Aussie investment bank Macquarie pays £1.9 billion
Four months after announcing that it was considering the disposal of the UK’s national emergency services operator, Telefonica has sold TETRA-based network to Macqaurie for £1,9 billion.
The network, which has up to 170,000 users was operated under a government-awarded contract by O2. The government and police authorities have secured a commitment from Macquarie that it will follow the existing business plan, and will keep the asset for at least ten years.
“We are confident that Macquarie meets the criteria set out by us which secures the maintenance and development of the communication infrastructure, commits to ongoing investment, offers a stable and focused management structure and looks to deliver long-term improvements to the system,” said Chief Executive of the NPIA (National Policing Improvement Agency), Chief Constable Peter Neyroud.
Mr Jim Craig, Head of the Macquarie Bank Group in Europe said,” Macquarie is investing in Airwave for the long-term – we have formally committed to this investment for a minimum of 10 years and intend to remain for the longer term.
“For Airwave it will be business as usual. We look forward to working with the Airwave team, to continue to provide high quality, critical services to network users and to invest further in the business in accordance with the established business plan.”