Posted by Lunion
Best Buy, a world-leading consumer electronics retailer, and The Carphone Warehouse, a world-leading independent mobile phone retailer, to create a new company
New venture to accelerate the development of The Carphone Warehouse's retail proposition and to introduce Best Buy stores across Europe
Best Buy to acquire 50% of The Carphone Warehouse's European and US retail interests for a cash consideration of £1.1 billion or $2.1 billion
The Carphone Warehouse to use proceeds to pay down debt, invest in broadband customer growth and infrastructure, and invest in new areas of growth presented by the transaction