Dixons Carphone, EE, Vodafone to Divide Phones 4u

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Phones 4u storeAccording to Bloomberg, Dixons Carphone, EE and Vodafone are set to buy at least some shops from Phones 4u, which shuttered down last week following the loss of business from mobile networks, including EE and Vodafone.

EE plans to buy 58 stores and take 359 employees, pending court approval, and is reportedly also set to buy the Phones 4u Life mobile service resale business.

On the other hand Vodafone says it will buy 140 shops and take on around 900 employees, pending court review of the sale.

Administrator PricewaterhouseCoopers is currently looking for buyers interested in Phones 4u assets, namely 700 stores and almost 5600 employees. PwC says it also found potential buyers for the Phones 4u insurance business, with interested parties including New York-based Assurant.

Bloomberg calculates Phones 4u faces great debts with £635 million worth in bonds and a £125m revolving credit facility.

Go Dixons, EE Said to Plan Offers for Phones 4u Assets (Bloomberg)