A UK billionaire who made his fortunes in telecoms is reported to be considering making a bid for UK van maker LDV which went into receivership earlier this month after a deal with Malaysia’s Westar fell through.
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Entrepreneur and philanthropist John Caudwell, whose business successes include the mobile phone chain Phones4U which he has since sold along with other telecoms businesses he built up, has asked team to review the situation and plans to recruit new management to help run the business should he go ahead, the Mail on Sunday reported.
“I would love to be the guy that moved in to save that business,” he was quoted as saying. “It’s one of the last bastions of the British motor industry. The vans are very desirable overseas, particularly in Third World countries.”
However, he told the paper his interest in LDV was at an early stage and he had not yet signed a non-disclosure agreement with administrator PriceWaterhouseCoopers.
“To save a business like this would take a lot of effort,’ he said. ‘It’s possibly a salvageable business if you bring in the right business acumen.”
PwC would say only it had received three firm expressions of interest.
