U.K.'s Dixons, Carphone Warehouse in $6.4B tie-up

|About: Dixons Retail Plc (DSITF)|By:, SA News Editor

U.K. chain stores Carphone Warehouse and Dixons Retail (DSITF) have agreed to merge in a £3.8B ($6.4B) all-stock deal.

With Carphone being Europe's largest independent mobile-phone retailer and Dixons being the second-biggest electricals chain store on the continent, the deal will create a powerful pan-European player with 2,900 outlets.

The new company will be called Dixons Carphone, with shareholders of each firm receiving 50% in the new entity. (PR)