Dixons and Carphone Agree on $6-b Retail Merger
Britain's Carphone Warehouse and Dixons Retail have agreed a £3.8 billion ($6.4 billion) merger to make the most of an increasing convergence of smartphones and consumer electronics in people's lives. Combining Carphone, Europe's biggest independent mobile phone retailer, and Dixons, Europe's No. 2 electricals retailer, would create a group with turnover of about £12 billion , 2,900 stores and 45,000 staff, the companies said on Thursday. "This is a merger that is ahead of the curve, not behind the curve, and is thinking about how the world is changing for customers," Carphone CEO Andrew Harrison told reporters. The combined group will be able to provide the technology products, as well as the content and connections customers need., and services such as installation and insurance.