Dixons and Carphone Warehouse in massive £3.8bn merger

Dixon Retail, the owner of Currys and PC World, and mobile phone retailer Carphone Warehouse announced they are to merge.

17:11 15 May 2014

Dixon Retail and Carphone Warehouse have announced they are to merge in a deal worth £3.8bn. Ownership is to be split equally between the two firm’s existing shareholder. The new firm will be called Dixons Carphone. 

 

Dixons have more than 500 Currys and PC World stores in the UK and Ireland. Meanwhile, Carphone Warehouse has more than 2,000 stores across Europe. Following the announcement, Dixons' share dropped by as much as 5per cent while Carphone Warehouse’s jumped by 3per cent on the London Stock Exchange. 

 

Dixons chief executive Sebastian James said: "Today we also announce that we are setting out on a new journey with Carphone Warehouse and it is good to be in such a strong position as we embark on this adventure. 

 

"The ability to take what we have built in electrical retailing and add the profound expertise of Carphone Warehouse in connectivity would make us a leading force in retailing for a connected world. 

 

"Together we can create a seamless experience for our customers that will enable technology to deliver what it promises - that is, to make their lives better."