Carphone agrees sale of Virgin Mobile France to Numericable Group
Carphone Warehouse said it and the other shareholders of the Virgin Mobile business in France have agreed to sell the venture to Numericable Group for an enterprise value of €325m.
Europe's biggest independent mobile phone retailer, which owns 46pc of Virgin Mobile France's holding company Omer Telecom Limited, said on Friday it and the other shareholders had entered into an exclusivity agreement with Numericable regarding the proposed sale.
"During the exclusivity period the parties will carry out the necessary consultations with employee work councils, with the transaction also being subject to the approval of the French Competition Authority," Carphone said.
On Thursday Carphone and Dixons Retail, Europe's No. 2 electricals retailer, announced plans for an all-share merger.