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Owner of Phones4U mulling sale: report

LONDON (Reuters) - British mobile phone retailer Phones4U could be put up for sale by its U.S. private equity owner Providence Equity, the Sunday Times newspaper reported, citing a source close to the company.

“There have been several unsolicited approaches and Providence is considering these,” the source told the newspaper. “Discussion are at an early stage.”

Analysts estimate the business, which has 476 stores, to be worth between 700 million pounds and 800 million pounds ($1.1-1.2 billion), The Sunday Times said.

Neither Phones4U nor Providence Equity were available to comment.

Reporting by Paul Sandle

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