Matthew Riley is set to start a sale process early next yearREX FEATURES

Telecoms tycoon Matthew Riley has accelerated plans for a £1bn-plus sale of his Daisy Group empire.

The 43-year-old is expected to kick off an auction of the business — Britain’s largest independent supplier of phone and IT services — early next year.

Potential buyers include Vodafone and Virgin Media, which have both tried to buy Daisy in the past. The company could also attract bids from buyout firms, according to sources.

The deal will be handled by UBS and Oakley Advisory, and is expected to generate a bonanza of several hundred million pounds for the Burnley-born businessman, who owns about half the company. Riley, who is chairman, is understood to have ruled out a float.

The potential sale comes just three years after he took…