Partly Cloudy

Partly Cloudy

max temp: 10°C

min temp: 2°C

Search

Natinonal: Retail electrical supercompany created

PUBLISHED: 11:58 15 May 2014 | UPDATED: 11:58 15 May 2014

Carphone Chief Executive Charles Dunstone

Carphone Chief Executive Charles Dunstone

Carphone Warehouse and Dixons Retail Group, which owns Currys and PC World, have announced a merger deal valuing the combined business at around £3.7 billion.

Sir Charles Dunstone owns a quarter of Carphone, the firm he founded in 1989, and is in line to become chairman of the newly merged retailer.

The firm has around 2,000 stores including more than 800 in the UK.

Dixons, founded in the 1930s and based in Hemel Hempstead, Hertfordshire, has 943 stores in seven countries, including more than 500 in the UK. Together, the two companies would have annual sales of more than £12 billion.

Such a retail behemoth would be expected to have more power to stand up to upstart online competition from electrical retail rivals such as AO World.

The company said there will be “significant job creation” through the rollout of the combined Dixons Carphone retail offering, resulting in an increase of around 4% of the combined group’s workforce by the end of 2016.

This increase will be partially offset by the combination of operational and support functions, causing a 2% drop in total headcount.

1 comment

  • Once upon a time there used to be a Monopolies and Mergers Commission, that changed to The Competition Commission !, however in its infinate wisdom this government has closed it down !, so what we are going to get is giant retail companies with very little 'competition' in the market because smaller companies will not have the buying power !!

    Report this comment

    freedomf

    Friday, May 16, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

A drunk motorist who drove at speeds of up to 110mph during a police chase on Suffolk roads has been jailed for 16 months.

A series of celebrations marking the achievements of Suffolk’s “most famous daughter” is being held around the centenary of her death.

East Anglia’s Children’s Hospices (EACH) thank support from generous communities and corporate organisations across Suffolk.

More than 100 creative computing pupils put their digital skills to the test today at the UK finals of the CoSpace competition in Martlesham.

Caravans have pitched up on land in Martlesham Heath, near Adastral Park, today.

People living along a 183km stretch of Suffolk roads will witness the world’s greatest cyclists race past their doorsteps during Britain’s “premier” road event, which for the first time features a stage hosted entirely within the county.

Former Ipswich Town stars Matt Holland and Russell Osman captained the teams in the annual ITFC Legends charity match, held at Bury Town’s Ram Meadow stadium on Sunday.

A planning inquiry into proposals to build 300 homes in Kesgrave has stalled after it was ruled that a key report on housing needs in Suffolk was needed for a fair decision to be made.

Hospitals across the region have been dealt extra funding to cope with pressure on emergency wards over the winter months.

An intrepid Ipswich man will drive more than 10,000 miles through rough terrain in a clapped-out banger this summer as he attempts one of the world’s most gruelling motoring events.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Newsletter Sign Up

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24