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Carphone agrees sale of Virgin Mobile France to Numericable Group
May 16, 2014 / 6:32 AM / 3 years ago

Carphone agrees sale of Virgin Mobile France to Numericable Group

LONDON, May 16 (Reuters) - Carphone Warehouse, Europe’s biggest independent mobile phone retailer, said it and the other shareholders of the Virgin Mobile business in France have agreed to sell the venture to Numericable Group for an enterprise value of 325 million euros ($446 million).

Carphone, which owns 46 percent of Virgin Mobile France’s holding company Omer Telecom Limited, said on Friday it and the other shareholders had entered into an exclusivity agreement with Numericable regarding the proposed sale.

“During the exclusivity period the parties will carry out the necessary consultations with employee work councils, with the transaction also being subject to the approval of the French Competition Authority,” Carphone said.

On Thursday Carphone and Dixons Retail, Europe’s No. 2 electricals retailer, announced plans for an all-share merger.

$1 = 0.7291 Euros Reporting by James Davey; Editing by Brenda Goh

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