Carphone to buy Your Communications - report • The Register

Carphone to buy Your Communications - report

Maybe, maybe not

By Tim Richardson • Get more from this author

Posted in Financial News, 5th August 2005 11:55 GMT

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United Utilities (UU) has played down speculation that it is about to flog its B2B telco - Your Communications - to Carphone Warehouse for £200m.

The Manchester Evening News quotes city sources who say the deal has already been agreed.

But a spokeswoman for Carphone told El Reg that the firm didn't comment on rumour and speculation.

A spokeswoman for UU told us that the company made no secret of the fact that it was looking at a "variety of strategic options for Your Communications".

"We have consistently indicated that United Utilities does not regard Your Communications as an integral part of its core business, and will look to exit the business at a point in time when shareholder value can be maximised," she said.

"Until a decision on an appropriate exit strategy has been made, our focus remains on growth and profitability for Your Communications, which achieved break-even in the second half last year (before goodwill amortisation and exceptional items).

"We will only look to exit the business at a point in time and in a manner that maximises shareholder value and we will make an announcement when we have anything further to announce."

Speculation about the future of Your Communications surfaced a year ago amid reports that UU was keen to flog the business. ®