16th Sep 2014 05:52
LONDON (Alliance News) - Vodafone Group PLC was involved in talks about a joint takeover of Phones4U as recently as two months ago, but abandoned the deal without providing an explanation, Sky News reported on Monday.
Executives at Vodafone discussed the deal at a meeting in June with financial and legal advisers to Phones4U, the mobile phone retail chain which collapsed into administration this week, Sky News said. The deal would have been a joint takeover of the chain alongside rival operator EE Ltd.
A Vodafone spokesman acknowledged the takeover talks had taken place and said the deal had been cancelled due to "regulatory and commercial reasons".
http://news.sky.com/story/1336270/vodafone-plotted-joint-takeover-of-phones-4u
By Sam Unsted; [email protected]; @SamUAtAlliance
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