6/20/2008 4:54:00 PM
Carphone boss David Ross offloads 15 million shares
Carphone Warehouse, co-founder David Ross has sold 2% of his shares in the business for £32.6m dropping his stake to 20%.
The deputy chairman sold 15 million shares at 217.5p to the Carphone employee share ownership trust. He still retains 179 million shares.
It is believed that Ross is raising cash to invest in his growing business empire outside the mobile arena, stretching from property to the Big Yellow storage company.
However, the move raised some eyebrows in the City as the company's share price has lost nearly a third of its value since the start of May.