Phones 4U Aims for London Stock Market Listing
Published on: 22nd Jan 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
One of the UK's larger mobile phone retailers Phones4U is moving closer to a stock market listing as its private equity owner looks for an exit from its investment.
BC Partners bought the company for £700 million three years ago, and could see the firm valued at around £1 billion when listed on the London stock market.
The group was formed by John Caudwell in 1987, and was sold to private equity firms Providence Equity Partners and Doughty Hanson for £1.46 billion in September 2006. The owners then disposed of a number of assets, raising an estimated £350 million.
The current owners, BC Partners bought the company in March 2011, and late last year sold the retailer's in-house insurance arm for USD160 million.
According to the Financial Times, a listing could take place towards the end of this year, although the planning is said to be at an early stage and no final decision has been taken.
Phones 4U currently has around 550 retail stores across the UK.