The Carphone Warehouse has published its final results for the financial year and has announced that it’ll split into two separate companies – the retail ‘Best Buy Europe’ operation and the TalkTalk fixed-line business – by July 2010 at the latest. It’s also confirmed that the Best Buy Europe partnership is on course to open its first ‘Big Box’ stores in spring 2010.
CEO Charles Dunstone said “It’s been increasingly obvious that the Group is now two businesses – Best Buy Europe and TalkTalk Group. The one grew out of the other; but both have now reached the stage where there are no material synergies between them and where, for operational and competitive reasons, they need to operate independently. The businesses are effectively run as separate entities already, each with highly experienced and strong management teams.”
[PDF report]