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Phones4U founder John Caudwell to offload stake in mobile phone retailer

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Phones4U founder John Caudwell to offload stake in mobile phone retailer

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18-03-2011, 10:12 PM

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Phones4U founder John Caudwell to offload stake in mobile phone retailer

Phones4U founder John Caudwell is in line for a further ?150m windfall, as he prepares to sell the rest of his stake in the mobile phone retailer to private equity firm BC Partners as part of a ?700m takeover.

Caudwell made ?1.24bn when he sold the majority of his holding to US firm Providence in 2006, in a deal which saw the distribution arm 20:20 offloaded to Doughty Hanson for ?347m.

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