Telefonica SA (Spain) announced that it has sold its Airwave 02 wireless subsidiary to the Australian-based firm Guardian Digital Communications for $4 billion. Within hours of the sale, Guardian announced it may have been misled about the finances of the firm by Telefonica SA, and announced they are terminating the company’s pension plan, affecting 800 employees. Airwave provides radio communications for all the UKs police services, fire agencies and many EMS agencies. The union representing Airwave has protested the move, but it’s not clear if or how the pension change will affect operation of the company or communications operations.
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