Hutchison 3G denies Phones 4U takeover rumours
Published: 17 Dec 2001 13:44 GMT
Reports that third-generation mobile phone licence holder Hutchison 3G is planning a multi-million pound takeover of the Phones 4U chain were denied by the company on Monday.
The deal, estimated at £500m, would have given Hutchison 3G a total of 255 high street shops. Speaking to ZDNet News, a company spokesman insisted that no such takeover was on the cards. "Basically, we're not commenting except to say that it's simply not true," he said.
Phones 4U is currently owned by Caudwell Communications, 97 percent of which is owned by businessman John Caudwell. According to The Sunday Telegraph, sources close to Mr Caudwell believe he would be willing to sell -- but Hutchison 3G has now made it clear that it simply isn't interested.
Unlike fellow 3G licence-holders mmO2, Vodafone, Orange and One2One, Hutchison 3G, does not already offer any mobile services in the UK. It is expected to make some important announcements in the New Year, including revealing the brand name for its high-speed mobile services.
See the Mobile Technology News Section for full coverage.
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