| Updated:
EE set to buy Phones 4U’s mobile business for under £5m
Phones 4U's retail arm may be done, but EE has just snapped up its mobile business for under £5m, according to the Financial Times.
EE beat off competition from Argos and Talk Talk, and the deal is now just subject to approval from administrators.
Citing a person close to the talks, the FT says a deal has been agreed for Life Mobile, the mobile arm of Phones 4U, which has around 85,000 subscribers.
EE, along with Vodafone, withdrew its products from Phones 4U stores, precipitating the company's fall into administration.
Since the company entered administration, EE and Vodafone have bought various elements, adding them to their own retail chains. They kept a few hundred stores open, saving a significant number of jobs.
The collapse was a big one and cost 1,697 jobs as almost 400 stores closed.1,697 jobs as almost 400 stores closed.