Hedge fund buys Phones 4U debt for possible attack on private equity owner

Telegraph – A New York hedge fund has bought up a large chunk of the £430m in senior bonds in Phones 4U that were rendered almost worthless by the controversial collapse of the retailer last year.

It is understood that Stonehill Capital Management, a distressed debt specialist, is now the largest holder of the bonds, which were sold on the Irish market in 2011.

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