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Best Buy Buying Carphone Warehouse Out of U.S. JV

Nov 7, 2011, 8:30 AM by Eric M. Zeman

Best Buy today announced that it will buy U.K.-based partner Carphone Warehouse out of the two companies' U.S.-based Best Buy Mobile joint venture. Best Buy will pay Carphone Warehouse $1.3 billion to gain full control of the mobile phone specialty stores. In addition to the buy-out, Best Buy also announced that it and Carphone Warehouse have scrapped plans to operate their chain of electronics mega stores in the U.K., and will close the 35 locations launched thus far. Instead, the two companies will extend their reach into emerging markets with smaller stores under the Global Connect brand.

Reuters »

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Comments

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This forum is closed.

movekwik2002

Nov 7, 2011, 4:08 PM

And People are on At&t's back

This one really bothers me due to the fact that Best Buy mobile has gone public with their desires to control the mobile phone game.

With Big Box Stores setting up and buying out all the competition, it makes it hard for Smaller ventures like the one I work for to stay in business.

When will someone step up and say enough is enough. Come on for real BB. You are as bad as Walmart!

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