Centrica looking to raise as much as GBP400 million from OneTel sale

19 Sep 2005

UK holding company Centrica is looking to offload its communications business OneTel and is expected to value the company at around GBP350 million to GBP400 million. OneTel was founded in 2000 and is the fourth-largest residential telephony operator in the UK, with around 1.7 million customers; it also has around 100,000 corporate clients. It has boosted business in recent years by cross-selling services with utilities supplier British Gas. The FT has named Carphone Warehouse and Swden’s Tele2 as potential buyers.

United Kingdom