AO World signs £33m takeover

Yorkshire Post - - BUSINESS & FINANCE -

AO World has agreed to buy on­line-only phone re­tailer Mo­bile Phones Di­rect in a “game-changer” ac­qui­si­tion that will ex­pand its mo­bile of­fer­ing in time for the in­tro­duc­tion of 5G.

The £32.5m takeover will in­crease AO World’s mo­bile of­fer­ing, which is cur­rently lim­ited to hand­sets only. Chief ex­ec­u­tive Steve Caunce said the deal would po­si­tion the com­pany to take ad­van­tage of the roll­out of 5G over the next two years.

Pop­pies fall through the atrium of the Lloyd’s build­ing dur­ing the Lloyd’s of Lon­don Armistice com­mem­o­ra­tion ser­vice yes­ter­day, watched by hun­dreds of staff of the in­sur­ance mar­ket, the world’s lead­ing provider.

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