Phones4U could gate crash Dixons merger deal
PHONES4U is understood to have approached Dixons over a possible merger as the electronics retailer continues talks over a £4 billion tie-up with Carphone Warehouse.
A deadline for the Dixons and Carphone Warehouse to announce their intentions was yesterday extended to 19 May. Hours later, speculation that Phones4U owner BC Partners had approached Dixons emerged.
Details of the possible merger between Dixons, owner of PC World and Currys, and Carphone Warehouse were revealed last month.
The high street retailers said yesterday that the announcement of talks on 24 February was made “when discussions were at a very preliminary stage”.
It added: “Both parties have agreed that they require more time to evaluate a potential merger of the two businesses.”
The statement said that an extension had been granted by the Takeover Panel. It said discussions were ongoing but there was no certainty a firm offer would be made.