Dixons and Car­phone Agree on $6-b Re­tail Merger

The Economic Times - - Front Page -

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.

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