John Caudwell, the UK billionaire behind telco company Phones 4U, has signed ageing rocker Rod Stewart to headline his charity ball in May, in aid of his children's charity Caudwell Children.

The singer, famed for hits including Maggie May, You Wear It Well, and Sailing, has agreed to donate his appearance and perform at the Caudwell Children 'Butterfly Ball' in May after learning about the work of the Charity.