Feeds

Caudwell Group sale rings up £1.46bn

I'll get me yacht

Beginner's guide to SSL certificates

John Caudwell was flicking through yacht catalogues this morning after sealing the sale of his telecoms empire to a pair of private equity groups for £1.46bn.

The Phones4U chain and the business-to-business operation will go to Providence Equity, a US-based firm, while UK-based Doughty Hanson will take over the 20:20 Logistics handset distribution arm.

Caudwell owned 85 per cent of the group, meaning he can look forward to a £1.24bn payoff when the deal completes next month. Caudwell’s brother, Brian, and finance director Craig Bennett owned the rest of the firm.

The £1.46bn final price was much more than many observers had expected, with some last year estimating £800m as the going rate for the business.

Caudwell had always said it was worth more, and also said a private equity sale was more likely to preserve jobs than a sale to a competitor. Whether this will be the case remains to be seen – private equity firms have a reputation for slashing costs and pruning assets as they seek a return on their investments.

As for Caudwell, the papers and radio were quoting him today saying he was going to take some time off, do some work on his children’s charity and possibly sail around the world. After all, now he’s offloaded the business he started roaming charges won’t be a problem.®

Beginner's guide to SSL certificates

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
'Internet Freedom Panel' to keep web overlord ICANN out of Russian hands – new proposal
Come back with our internet! cries Republican drawing up bill
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.