Carphone announces figures and plans

The Carphone Warehouse has announced its quarterly trading update for October, November and December 2008, as well as revealing its plans for the next 15 months. UK like-for-like revenue (compared with the same period in 2007) was up 8.3%, with European like-for-like revenue up 6.5%. In the next 12 months it plans to open the first Best Buy 'big box' stores in the UK and will be conducting an efficiency review alongside its current structural review. [Press release]

Carphone confirms broadband business review

The Carphone Warehouse has published its half-year results. Excluding figures from Best Buy Europe, which now manages the Retail and Distribution business, group revenues were £697 million compared to £711 million in the same period last year. The biggest surprise - or not, depending on whether you heard the rumours at the weekend - was that the board is reviewing the Group’s structure, which may lead to the retail and broadband businesses being separated. They'll tell us more in Spring 2009. [Press release]

Best Buy for Napster

US electronics company Best Buy, which announced a partnership with The Carphone Warehouse earlier this year, says it's agreed to buy digital music company Napster for $121 million. Napster currently has a mobile service in the USA, a deal with O2 in the UK and works with other mobile companies worldwide. [Press release]

Best Buy to sell 3G iPhone in USA

Best Buy, which recently joined forces with The Carphone Warehouse, says it'll soon be selling the Apple iPhone 3G in the USA. Currently the device is only available from AT&T and Apple in the United States. [Press release]

Andrew Harrison leaves Carphone board for Best Buy

Carphone Warehouse UK chief executive Andrew Harrison is stepping down from the Carphone Warehouse Group board to take a position on the Best Buy Europe board. He will remain in his existing role and will also take charge of the Best Buy Europe joint venture. [Source: Mobile News]

Carphone Warehouse and Best Buy merger is OK with OFT

The Office of Fair Trading has said it won't be refering the Carphone Warehouse and Best Buy joint venture to the Competition Commission because there's currently no overlap in the UK between Best Buy and the proposed merged business. [Carphone Warehouse press release; OFT decision]

Carphone Warehouse and Best Buy to combine businesses

The Carphone Warehouse is selling half of its mobile phone business to US retailer Best Buy, creating a new company. Best Buy is buying 50% of The Carphone Warehouse's European and US retail interests for £1.088 billion, leaving the Carphone Warehouse with 100% of its UK fixed-line businesses. The new combined company will operate over 2,400 stores in Europe plus outlets in the USA.

The whole deal is subject to shareholder agreement at a meeting in August. Bob Willett, Best Buy's CEO, is expected to be chairman of the new venture with Roger Taylor, The Carphone Warehouse Group's current CFO, as CEO. Carphone Warehouse Group CEO Charles Dunstone will remain involved as part of a board of directors. [Press release]

Carphone Warehouse announces plans for 2009

The Carphone Warehouse has released a trading statement that talks about its plans for the next year. It says it plans greater separation of its operating businesses, with its retail business continuing to offer more than just mobile phone connections. 120 new stores are planned, along with expansion of the company's partnership in the USA with Best Buy. [PDF document]

Carphone takeover rumours still around

Carphone Warehouse shares rose by 8.1% on Thursday, ending the day at 328.5p as the top gainer in the FTSE100. It's apparently because of the returning rumour that US retailer Best Buy is interested in a takeover. The companies currently work together in the USA. [Source: Scotsman.com]

No big surprises at The Carphone Warehouse

The Carphone Warehouse has issued its third quarter trading update for the thirteen weeks to the end of December 2007. No, it's not said it's being bought by Best Buy. No, it's not said it's being bought by Vodafone. No, there's no sign of a partnership with Apple. Revenue is up 14%, which is slightly less than its previous forecast, and its outlook for the full year is unchanged. So much for the rumours...
[Source: Carphone Warehouse PDF document]

Carphone takeover rumours return

Rumours of a Carphone Warehouse takeover have returned, with Vodafone and Best Buy - both suggested in the summer as potential bidders - still in the frame. [Source: Mobile News]