Carphone Warehouse and Dixons to announce merger

Kasmira Jefford
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DIXONS Retail, the owner of Currys and PC World, and Carphone Warehouse are poised to announce the final terms of their proposed £3.7bn merger next week in a deal that will create one of the biggest high street technology giants.

The companies are understood be planning to unveil details of their tie-up alongside Dixons’ trading update tomorrow, ahead the extended deadline set by the Takeover Panel of 19 May.

The deal, first revealed by Sky News, is expected to be a merger of equals, with Dixons boss Sebastian James becoming chief exec and Carphone Warehouse’s founder Charles Dunstone taking over as chairman of the combined group.

James has made no secret of wanting to step up the company’s exposure to mobile phones.

The new company, which is considering the name Dixons Carphone Group, would have a powerful presence across European high streets with about 2,900 stores.