LONDON May 19 Dixons Retail, Europe's
No. 2 electricals retailer which last week said it planned to
merge with Carphone Warehouse, has agreed to sell its
ElectroWorld operations in Central Europe to local specialist
Electroworld operates 26 specialist electrical retail stores
across Czech Republic and Slovakia. It made a pretax loss of 5.6
million pounds ($9.4 million) on turnover of 129 million pounds
in Dixons' 2013-14 year.
Following completion, which is expected to take place during
the summer, and which remains subject to regulatory clearance,
Dixons expects to receive a small deferred cash consideration
spread over three years.
Having announced the merger on Thursday, Dixons and Carphone
have moved quickly to tidy up their portfolios.
On Friday, Carphone said it had agreed to sell its 46
percent stake in Virgin Mobile France.
($1 = 0.5942 British Pounds)
(Reporting by James Davey, Editing by Paul Sandle)