UK stores Carphone Warehouse and Dixons to merge
Published 16/05/2014 | 02:30
BRITAIN'S Carphone Warehouse and Dixons Retail have agreed a £3.8bn (€4.6bn) all-share merger, seeking to tap into the increasing convergence of smartphones and consumer electronics products in people's lives.
Combining Carphone, Europe's biggest independent mobile phone retailer, and Dixons, Europe's second-biggest electricals retailer, would create a group with turnover of about £12bn (€15bn), 2,900 stores and 45,000 staff, the companies said. "We operate in two complementary markets (mobile phones and consumer electronics) but they are markets that are converging," Carphone chief executive Andrew Harrison told Reuters.