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Best Buy buys Carphone Warehouse
Uzbekistan News.Net
Friday 9th May, 2008
America’s Best Buy brand will begin opening in the UK next year, to take on the European consumer electronics market with its new acquisition, Carphone Warehouse.
Best Buy is paying £1.1 billion for half of Carphone Warehouse’s retail business to create a joint venture that will compete with DSG International and Kesa, the French group.
The company hopes to take a large portion of Europe’s estimated £90 billion consumer electronics market.
The American group will use Carphone Warehouse’s 2,400 retail stores across eight European countries, including France, Germany, Spain and Portugal, as well as the UK, to help it to break into the European market.
Carphone will continue to trade under the Carphone Warehouse brand and retain full ownership of its fixed-line telecoms business in the UK.
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