Best Buy exits Europe, selling joint venture stake
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 4:55 am, Tuesday, April 30, 2013
NEW YORK (AP) — Best Buy is looking to exit Europe, selling its stake in its joint venture there to partner Carphone Warehouse Group PLC in a cash-and-stock deal valued at 500 million pounds (about $775 million). The consumer electronics company said Tuesday that the deal allows it to streamline its business and strengthen its balance sheet. Best Buy and Carphone, a cell phone retailer, entered their joint venture agreement in 2008. Reported by SeattlePI.com 9 hours ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 4:55 am, Tuesday, April 30, 2013
NEW YORK (AP) — Best Buy is looking to exit Europe, selling its stake in its joint venture there to partner Carphone Warehouse Group PLC in a cash-and-stock deal valued at 500 million pounds (about $775 million). The consumer electronics company said Tuesday that the deal allows it to streamline its business and strengthen its balance sheet. Best Buy and Carphone, a cell phone retailer, entered their joint venture agreement in 2008. Reported by SeattlePI.com 9 hours ago.