Dixons and Carphone Warehouse announce merger
As widely reported last week, UK tech retail giants Dixons and Carphone Warehouse have revealed that they are to merge, creating one of the biggest high street technology brands in the country. Dixons CEO Sebastian James announced the news today while reporting trading details for the financial year, according to BBC News.
"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.", James is quoted as saying. "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."
Precise details of the merger have not yet been confirmed, but earlier reports indicated that the new Dixons Carphone Group would be formed as part of a £3.7 billion ($6.2 billion) deal in which both Dixons and CPW are equal partners.
Source: BBC News