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Phones4U boss sells to become billionaire

James Middleton

August 7, 2006

1 Min Read
Phones4U boss sells to become billionaire

John Caudwell sold Caudwell Group, which includes Phones4U, to Providence Equity Partners with Doughty Hanson buying up the handset distributor 20:20 Logistics Distribution which will be renamed 20:20 Mobile.

Caudwell owns 85 per cent of the company he built up with his brother, Brian, who owns a 10 per cent stake.

According to the Caudwell duo, it took eight months to sell their first 26 mobile phones when they were still the size of a briefcase. The firm now has more than 8,000 employees.

Caudwell said he will now use his fortune to do the things he wants to do, like sailing around the world.

About the Author(s)

James Middleton

James Middleton is managing editor of telecoms.com | Follow him @telecomsjames

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