Dixons, Carphone Warehouse to merge in August

Dixons, Carphone Warehouse to merge in August

The merger of Dixons and Carphone Warehouse is expected to be completed on August 7. The £3.8bn merger between the two retailing giants will create the UK's biggest electronics retailer.

According to a shareholder prospectus, the formation of the new company Dixons Carphone is near completion. The new deal was approved by the European Commission last week. Shareholders of the two companies must now agree to the merger.

Carphone Warehouse founder Charles Dunstone will serve as chairman of the new company while the chief executive role will be jointly filled by Carphone's Andrew Harrison and Dixons' Sebastian James.As the new chairman, Dunstone will receive an annual salary of £280,000

Speaking at last week's announement of preliminary results, Sebastian James, group chief executive of Dixons, said: 'I am very excited about the opportunities that the proposed merger with Carphone Warehouse offers for the Group.'

He added, 'We will build what I hope will be the first and best truly multi-channel proposition that allows customers not only to buy and experience the explosion of new connected products that are emerging, but to also get the advice, connectivity and services that will allow them to use technology as it should be used – to make their lives better.'

A Carphone Warehouse spokesperson told Mobile, 'Last week we received EC approval and then issued the shareholder prospectus for our proposed merger. This confirms our expected timetable, so, subject to shareholder approval, the new Dixons Carphone shares should be trading from 7 August.'

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