The owners of Addison Lee, the London-based minicab firm, have begun exploring a sale of the company they took control of four years ago.

Sky News has learnt that Jefferies, the investment bank, has been hired by Addison Lee's majority shareholder, Cheyne Capital, to canvass interest in a takeover.

The process is thought to be at a relatively early stage and might not lead to a transaction, according to one insider.