PHONES 4U could soon be snapped up by BC Partners after talks were resumed despite an earlier stalemate.
It is thought BC could offer in the region of £700m to take control of the firm from Providence Equity Partners.
Providence has been mulling a sale since September after a number of firms signalled their interest in the company. Talks with BC are understood to have dragged on for several months before being put on ice.
BC Partners and Phones 4U were unavailable for comment last night.
Providence bought Phones 4U from founder John Caudwell in 2006.
A sale would result in a second windfall for Caudwell. He kept a small stake in the business after raking in £1.5bn from selling his empire four years ago.