Companies must confirm intention by March 24
Carphone Warehouse and Dixons Retail are exploring a possible merger between the two firms that could create a company valued in excess of £3.5 billion.
“The boards of Dixons and Carphone Warehouse note the recent speculation and confirm that the two companies are in preliminary discussions regarding a possible merger of Dixons and Carphone Warehouse,” the companies said in a joint statement.
Carphone Warehouse is the biggest independent mobile phone retailer in Europe operating more than 2,000 stores, while Dixons controls more than 500 Currys and PC World stores in the UK
Shares in Dixons jumped almost five percent and Carphone Warehouse’s one percent on news of the discussions.
In accordance with stock market regulations, a firm intention on the deal must be announced before March 24.