Carphone Warehouse founder and chairman Charles Dunstone has raised £35.4m from a share disposal.
Dunstone sold 15m shares at 236p each. That still leaves him with nearly 133.1m shares, or 29.12% of the company.
Dunstone founded Carphone Warehouse in 1989. In those days it was purely a mobile phones retailer in the UK. The retail and distribution business, which has stores in the UK and Western Europe, is now part of the joint venture between Carphone Warehouse and US consumer electronics retailer Best Buy.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
First quarter retail sales were better than expected.
Carphone Warehouse also has a 47.5% stake in Virgin Mobile France along with investments in property and technology licences.
Carphone Warehouse raised £185m at 200p a share when it floated in July 2000. TalkTalk Telecom was demerged earlier this year with holders of two Carphone Warehouse shares getting two TalkTalk shares on share in the new Carphone Warehouse business.
Dunstone is also chairman of TalkTalk and he owns 32.4% of the company.
Top Director Buys
Johnston Press (JPR) Director name: Mr Ian M RussellAmount purchased: 105,493 @ 15.25p Value: £16,088
Templeton Emerging Markets Inv Trust (TEM) Director name: Mr Peter HarrisonAmount purchased: 2,535 @ 586.49p Value: £14,868
NetDimensions (NETD) Director name: Mr Sanjay VazeAmount purchased: 50,000 @ 23.00p Value: £11,500
Top Director Sells
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
By Vaishali Varu Published
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published