Mr Caudwell also owns Phones 4 U

The Staffordshire businessman, whose empire includes Phones 4 U, has called in investment bankers Rothschild for Caudwell Communications' sale.

The Manchester-based company supplies voice dialling services and is the landline arm of the Caudwell Group.

Industry analysts have said the communications company could be sold for a figure well above �100m.

'Fully considered'

Caudwell Communications has more than 1,000 employees and is based in West Didsbury.

In a statement Mr Caudwell, chairman and chief executive of Caudwell Group, said employees interests will be fully considered.

He added the landline business had far exceeded expectations, but the company's greater focus was on mobile telecommunications and expansion into Europe and the Middle East.

"In assessing any offer the future plans for the business will be reviewed to ensure the interests of the workforce and customers are fully considered," he said.

Rothschild began a strategic review of the company a few weeks ago.

Since it began it has been approached by several parties interested in buying the company.