Thursday May 8
Best Buy puts $2.1 billion into European cell phone retailer
“It is also clear that we have a significant opportunity for incremental growth in our retail business which we can best realize with Best Buy on board.”
Best Buy Co. Inc., the biggest U.S. electronics retailer, is paying $2.1 billion for a 50 percent stake in Europe's largest cell phone retailer, the companies announced Thursday.
The Carphone Warehouse will add its 2,400 U.S. and European stores into the new joint venture.
The deal also includes the web and direct businesses of The Carphone Warehouse, the insurance operations, and its airtime reselling businesses. The Carphone Warehouse's current European retail management team initially will remain in place, the companies said. Read more
Posted by The Associated Press
Full Story: The Associated Press
Complete Coverage: 7 stories
- Reuters UK - Carphone sells 50 pct stake to Best Buy
- Reuters UK - Carphone sells 50 pct stake to Best Buy
- Reuters UK - Best Buy enters Europe with Carphone
- 4 more...
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