A majority share in Phones 4U has been sold to private equity firm BC Partners by owners Providence Equity Partners. Control of the UK retail chain had been bought by Providence from founder John Caudwell in 2006.
Although the deal needs regulatory approval, it’s expected to be finalised next month.
Phones 4U currently has over 500 UK shops. BC Partners has investments in 16 companies including estate agent group Foxtons and the Fitness First chain.
[More details: FT.com; Guardian.co.uk]