9/15/2010 10:03:00 AM
Providence Equity considers Phones 4u offers
Offers on the table for Phones 4u were unsolicited but are now being considered by the retailer’s owner Providence Equity, according to a person familiar with the situation.
The person said that Providence Equity has received ‘a number of unsolicited expressions of interest and is in the early stages of assessing those approaches’.
The person added that the approaches ‘may not lead to anything,’ stressing that it was not ‘out there looking to make a sale’.
The person said that the firm ‘is thinking what to do next’.
Operators and retailers in a related or parallel market are tipped as the likeliest contenders. Likely bidders include Vodafone, DSGi and Game Group, industry experts said.