Carphone Warehouse now owns 50 per cent of the retail arm of the business, including The Phone House, Best Buy Europe and Best Buy Mobile. It shares the outlets with its American partner Best Buy.
It also owns 100 per cent of CPW Property, which owns and maintains the firm’s property portfolio. In addition it holds a 47 per cent stake in Virgin Mobile France.
The retail division owns 2,450 stores across Europe, with more than 800 in the UK. It will embark on a massive expansion drive in Europe with its US partner, planning to open up “big box” Best Buy warehouse-type stores, focusing on mobile phones, TVs and laptop computers. It will open its first British store in May.
It also plans a revamp of its Carphone stores, which will include fewer products and higher staff count.