Airwave, the digital radio network owned by UK-based mobile phone operator O2, has moved a step closer to a sale after O2 chairman and chief executive Peter Erskine announced that the group was “erring on the side of selling the business”.

O2's parent company Telefonica announced a surprise review of the Airwave business last December, just one month after describing it as “a valuable part of the group.” It is thought to be worth up to £2bn. 

Erskine said that since the announcement was made, a “healthy” level of interest has been expressed by potential buyers, who include private equity groups and companies in the telecoms and other industries. 

A decision on whether to sell is expected within six weeks, although the O2 have said that the sales process itself could take several months. 

Airwave is an encrypted communications network for the exclusive use of the UK's emergency services and rescue operations. It has 150,000 users, and is used by every police force in mainland Britain as part of a £2.9bn government contract until 2019.