Blu has received bids from four companies Wind, Vodafone Omnitel, TIM and H3G – for its GSM network. Three of these operators already have Italian networks, but Hutchison backed H3G does not currently own a GSM network in Italy.
Blu is continuing to make losses and could face closure if fresh funds are not injected soon. Hutchison is thought to be the only bidder for the network infrastructure, while the other are all hoping to acquire its customer base. However, it is unclear what would happen to Blu’s GSM license if the company is broken up.
Hutchison Whampoa is the largest shareholder of H3G. Acquiring Blu’s network would give it a GSM network in Italy and a small customer base. Blu is a relative small player with only 4% of the Italian market.
