Carphone Warehouse gets £1.1bn for share of retail stores
Carphone Warehouse has sold a 50% share in its high street stores to Best Buy. The move may see Best Buy bringing its warehouse style computer and electronics retailing muscle to Europe, but they would not be the first since PC World stores are already large and sprawling offering pretty much the same products.
The interesting thing is what will Carphone Warehouse do with the £1.1bn. Suggestions are that it will be used in part to reduce the debt within the group and may help to fund further growth of the broadband arms that are Talk Talk and AOL Broadband.