Providence Equity considering sale of Phones4U
Providence Equity Partners is considering the sale of mobile phone retailer Phones4U, according to reports.
The company is thought to be worth in the region of £700-800m and it is believed interest from potential buyers spurred the investor to consider an exit. According to sources, interested buyers include mobile phone operators and electronic goods retailer Dixons.
Providence and Doughty Hanson acquired Phones4U and the phone distribution arm 20:20 Mobile Group in August 2006 for £1.46bn. Providence retained the retail arm Phones4U while Doughty Hanson took control of 20:20 Mobile Group.
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