Andy Lockwood, Sales Director at Your Communications told Comms Business Magazine, “It seems that today if your company is not for sale then there must be something wrong.”
Speaking to editor Ian Hunter, Lockwood confirmed that Your Comms owners, United Utilities, were looking to offload their telecoms operation.
Like many others in the industry, Your Communications is facing pressure on margins as the price of minutes continues to plummet and other technologies such as VoIP put further pressure on operations.
Outgoing United Utilities CEO John Roberts was reported by The Register as saying yesterday “We have recognised for some time that consolidation of the telecoms sector has been overdue, and we are now seeing evidence of deals being done. [It is] our view that the interests of our telecoms business are best served by its participation in the current round of consolidation in its industry through a sale process.”
The Register adds: “In preparing to flog Your Communications – which offers voice, data and mobile services to the public sector and SMEs predominantly in the Midlands and North of England – UU is taking a hit on the value of the business and halving the net asset value to around £98m.”