Italian GSM network Blu has been thrown another lifeline. After months of uncertainty about Blu’s future, bidding consortium Anthill has offered to buy the operator for $527 million.
Anthill, made up of 12 companies, was prohibited from bidding for a 3G license by Italian regulators on the grounds that it was lacking in expertise and experience of the mobile industry. But if it manages to get Blu, the company will have a better foothold in Italy from which it can expand.
Other possible bidders for Blu include TIM and H3G. Blu has financial backing for another four months, which should give it enough time to finalize a sale and avoid closure of the network.