Partly Cloudy

Partly Cloudy

max temp: 6°C

min temp: 2°C

ESTD 1874 Search

UK: Carphone Warehouse and Dixons, owner of Currys and PC World, merge

09:23 15 May 2014

A Currys PC World store

A Currys PC World store

Carphone Warehouse and the owner of Currys and PC World have announced a merger deal valuing the combined business at around £3.7billion.

shares
Carphone Chief Executive Charles DunstoneCarphone Chief Executive Charles Dunstone

The proposed tie-up between Carphone and Dixons Retail Group will create a new company with a UK portfolio of more than 1,300 stores.

Boosting its exposure to the burgeoning mobile and smartphone market, Dixons said the deal will create a “new, world class British retailer for the new digital age”.

Sir Charles Dunstone owns a quarter of Carphone, the firm he founded in 1989, and is in line to become chairman of the newly merged retailer. The firm has around 2,000 stores including more than 800 in the UK.

Dixons, founded in the 1930s and based in Hemel Hempstead, Hertfordshire, has 943 stores in seven countries, including more than 500 in the UK. Together, the two companies would have annual sales of more than £12 billion.

Such a retail behemoth would be expected to have more power to stand up to upstart online competition from electrical retail rivals such as AO World.

The company said there will be “significant job creation” through the rollout of the combined Dixons Carphone retail offering, resulting in an increase of around 4% of the combined group’s workforce by the end of 2016.

This increase will be partially offset by the combination of operational and support functions, causing a 2% drop in total headcount.

shares
Jo Harris worked at the B&M store in Copdock until 2013, and despite being an employee there was issued two fines of £70 for parking.

A group of former employees at a store in Ipswich have been left distraught after car park fines mistakenly issued more than two years ago has left them facing a court appearance.

RAF Mildenhall is due to close in four years.

Science, technology and engineering are three words which many are hoping will become synonymous with west Suffolk if several new projects can be pulled off.

A British Airways Embraer airliner at London City Airport

British Airways is to start flying from Stansted Airport this summer, it was announced today.

Stoke by Nayland Hotel, Golf & Spa.

Stoke by Nayland Hotel, Golf & Spa has been named as a finalist in VisitEngland’s Awards for Excellence.

Thompson and Frist Choice travel brochures.

Thomson and First Choice owner TUI said yesterday that summer holiday bookings to Turkey had slumped by 40% after recent terrorist attacks.

Most read

Fred Olsen Travel Sale

cover

Click here to view
the Fred Olsen
Travel Sale

View

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Great British Life

Great British Life
MyDate24 MyPhotos24