LONDON, April 30 Mobile phone retailer Carphone
Warehouse said it was buying out its joint venture
partner Best Buy Co Inc for 471 million pounds ($730
million), ending a five-year relationship.
Carphone Warehouse owns half of Carphone Warehouse Europe,
which operates around 2,400 stores in nine European countries
under the Carphone Warehouse and Phone House brand, with the
U.S. retailer owning the other half.
The British group, Europe's biggest seller of mobile phones,
also owns a 47 percent interest in Virgin Mobile France. It said
the two companies had decided to separate to focus on their own
The company announced the news as CPW Europe posted
like-for-like revenue growth of 6.5 percent, reflecting a
continued strong performance in Britain.
Analysts were expecting fourth-quarter like-for-like sales
growth of about 4-5 percent, slowing from the 8 percent growth
posted in its third quarter, the first full quarter of iPhone 5