Cauldwell confirms Communications up for sale

10 Nov 2005

UK mogul John Cauldwell has confirmed that he is to sell his entire telecoms business Cauldwell Communications following a strategic review of the company by NM Rothschild. Last month it was rumoured that Cauldwell was looking to offload just one of his telecoms investments, mobile phone retailer Phones4U, but he now says the sale of the whole group is on the cards. Cauldwell, Britain’s 26th richest man, started Phones4U with his brother in the late 1980s and values it at around GBP800 million, pushing his estimation of the value of Cauldwell Communications nearer to GBP1.3 billion, though analysts think GBP800 million is a more realistic price for the group.

United Kingdom