Carphone Warehouse's Best Buy Deal Will Shake Up Consumer Electronics in Europe

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On 8 May 2008, Carphone Warehouse and Best Buy announced they would form a joint venture in Europe. Carphone Warehouse will contribute its 2,400 stores in nine European countries, its airtime reselling business and its share of existing relationships with Best Buy in return for £1.1 billion and a 50 percent stake in the venture. The new company plans to continue expanding Carphone Warehouse retail operations, bring Best Buy consumer electronics stores to Europe, and use Carphone Warehouse's expertise in mobile phone retailing to improve this aspect of Best Buy's North American business.

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