Phones 4u in sale speculation

Phones 4u could be sold after its private equity owner received a number of takeover offers.

The Sunday Times reports that ‘several suitors’ have made offers to Providence Equity. A source close to the company is quoted as saying: ‘There have been several unsolicited approaches and Providence is considering those. Discussions are at an early stage.’

The independent phone retailer was bought from founder John Caudwell in 2006. The business is estimated to be worth between £700m and £800m.

Mobile phone operators and DSGi are tipped as possible suitors.

Phones 4u already has a deal to put concessions in DSGI’s Curry stores and some PC World outlets.

[Source]