By Julian Goldsmith, 15 January 2002 08:45
NEWS Blu, Italy's fourth largest mobile phone operator, got a new lease of life when its shareholders invested enough cash to keep it in business for a further month while they seek a buyer. Shareholders, including BT, agreed to inject a further $27m into the company to continue operating until 15 February. If the money had not been forthcoming it would have gone into liquidation. Blu has been up for sale since it pulled out of the Italian 3G licence auctions last year.
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