Carphone shares lose 7 per cent

CARPHONE Warehouse tanked yesterday as investors appeared to cool on its announcement that it has offloaded its US mobile retail business.

The firm said it has sold the high-growth unit for $1.3bn (£810m) – roughly equal to analysts’ sum-of-the-parts valuations.

The firm’s shares closed up following the announcement on Monday but lost 7.2 per cent yesterday to end at 323p.