5/30/2008 10:36:00 AM
Carphone and Best Buy linked with takeover of DSG
Carphone Warehouse and new partner Best Buy could be on the verge of mounting a takeover bid for electrical retailer DSG International, according to analysts.
Morgan Stanley analysts raised their rating of DSG’s stock, citing the possibility of a takeover of DSG by Carphone’s new joint venture group, according to a Bloomberg report.
‘The new venture will need to make an acquisition if it is to achieve its ambitions, and DSG is a plausible target,’ Morgan Stanley analysts said today.
Earlier this month Carphone sold a share of its retail business to US-retailer Best Buy for £1bn, and announced plans to open a number of giant retail stores around the country.