Telefonica unit planning sale of Airwave"”report

UK mobile telecom operator O2, a subsidiary of Spanish telecommunications group Telefonica, is considering the sale of subsidiary Airwave for around 3 billion euros ($5 billion), a Financial Times report said.

Airwave provides emergency communications services to more than 150,000 users, the report said.

Officials of the company however did not disclose other details of the planned sale, the Financial Times report said.

The report meanwhile quoted Jose Maria Alvarez Pallete, Telefonica's international area manager, as saying that Telefonica planned to double its shareholding in Chinese operator China Telecom, from 5% to 10%.

Alvarez said however, that a time frame had not been set for the operation, the report said.