Feb 20, 2018

Daisy prepares for £1bn sale this spring

Daisy Group will put itself up for sale as soon as March with a price tag of more than £1bn, as the UK telecoms company plots a path to doubling in size as its attempts to take the fight to BT in the small and medium-sized business market. The company appointed UBS and Oakley Advisers late last year, leading to reports that the company being lined up for a sale or possibly a return to the public markets. Daisy had been built by acquiring smaller rivals, racking up 46 deals before it accepted a £500m investor buyout to take the company private in 2014. Mr Muller said Daisy is "Very confident" that as well as increasing revenues, the company could double in size through further takeovers. A sale to a rival telecoms company - with Vodafone and Virgin Media having held talks with Daisy in the past - or a new fund would likely see Matthew Riley, Daisy's executive chairman and founder, sell up and focus on other ventures.

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