BC Partners has re-started negotiations to acquire the U.K. high-street mobile phone retailer, Phones4U, The Wall Street Journal reports. U.S. buyout firm, Providence Equity Partners, which owns Phones4U, had previously appointed Deutsche Bank to sell the business in September 2010. Blackstone Group and Advent International were interested in the business before the sale was put on hold after bidders failed to meet the price expectations. BC Partners may offer to pay about £700 million for the company, increased from its previous £655-680 million bid made in December 2010, adds AltAssets.

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