Phones4u rings out warning
The mobile-phone retailer says it intends to overtake market leader Carphone Warehouse by focusing on the youth market. Report by Paul Durman
CHARLES DUNSTONE and Carphone Warehouse have a new challenger for the top spot of Britain’s booming billion-pound mobile-phone market — Phones4u’s Tim Whiting.
Whiting became boss of Dunstone’s main retailing rival when John Caudwell sold his group for £1.5 billion in a long drawn-out deal that was completed at the end of last month.
Caudwell’s decision to sell up and sail into the sunset caused the business he founded to be split. The retail operations, headed by Whiting, have been bought by Providence Equity Partners while another private-equity firm, Doughty Hanson, acquired 20:20, the logistics and distribution business.
I hope they win.
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