Best Buy buys half of Carphone Warehouse
8 May 2008 | 12:46 BST
Shops across Europe
GIANT US electronic and electrical goods retailer, Best Buy has bought a half share in the Carphone Warehouse's Retail and Distribution business for some £1.1 billion.
The firm hasn't bought into the Carphone's broadband business, though. The plan is for the two companies to launch a whole bunch of Best Buy shops over Europe starting in 2009.
The pair claim that together they already retail more laptop computers than anyone else. The logic of the deal is plain. The Carphone has to get into laptops anyway in order to capitalise on the booming mobile broadband sector. Which means 3G dongles for laptops.
Plus, it is looking a bit vulnerable having a business that specialises in selling mobile phones. The group has already fallen out with Vodafone, for example.
An indication of just how seriously the top bods are taking this deal can be gauged from the fact that the CPW's Charles Dunstone got his opposite number, Brad Anderson CEO of Best Buy to come to talk to the troops at the CPW's HQ in Acton. µ
© 2007 Incisive Media Investments Ltd. 2007