Ross sells £22m Carphone stake

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The Independent Online

David Ross, the deputy chairman and co-founder of Carphone Warehouse, yesterday cashed in shares worth £22m in the mobile phone retailer.

David Ross, the deputy chairman and co-founder of Carphone Warehouse, yesterday cashed in shares worth £22m in the mobile phone retailer.

Mr Ross was one of three businessmen who floated Carphone Warehouse, which was founded in 1989.

Even after yesterday's share sale, announced at the same time as the company's fourth quarter trading update, Mr Ross retains a stake in the business which controls 22.86 per cent of the company's shares. His remaining stake is worth £294m.

Mr Ross is one of Britain's richest men and lives in the 700-year-old Neville Holt Hall in Leicestershire.

He has agreed not to sell any more shares in the business for a period of 12 months except with the prior consent of the Carphone Warehouse board.

The company yesterday said it expected to report full year pre-tax profits for the year to March 31 at the top end of analysts' forecasts, which range between £71m and £76m. Earnings per share forecasts range from 5.9p to 6.5p.

Investment column, page 50

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