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Dixons and Carphone Warehouse Confirm Merger Talks

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Two of the UK's largest consumer electronics and mobile phone retailers have confirmed that they are in merger talks.

The consumer electronics giant, Dixons confirmed media speculation that it is having talks with phone retailer, Carphone Warehouse.

Dixons owns 900 Currys consumer electronics retail stores, and the PC World superstores.

Carphone Warehouse owns 1,700 retail stores across Europe, as well as a 50% stake in Best Buy Europe and a 47.5% share in Virgin Mobile France.

Both companies have comparable stock market capitalisations, of around £1.7 billion each.

In a statement, the two companies said that the discussions are at a very preliminary stage and there can be no certainty that a transaction will be forthcoming. In addition, no decision has been reached regarding the structuring of any such merger.

The two sides were previously known to be in talks, but that was presumed to be limited to CPW taking over the mobile phone sales inside Dixons, which are currently handled by rival phone retailer, Phones 4U.

Both companies are listed on the London stock market, and under its rules will be required to make a decision by the 25th March whether they will go ahead.

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Tags: carphone warehouse  dixons  UK