Carphone Warehouse Shares Jump on Vodafone Takeover Rumours
Shares in UK headquartered mobile phone retailer, Carphone Warehouse jumped sharply on the London stock exchange after rumours of a takeover bid emerged. Top tip seemed to be that Vodafone was looking at the company again, particularly for its non-UK retail assets.
"Old Vodafone bid rumours are doing the rounds. Also, there is continued interest on the back of expected strong Christmas sales, specifically on the iPhone," an unnamed trader told Reuters.
However, some analysts think that the jump is just general share trading as the shares were down earlier this week. Also, rival UK electronics retailer DSG reported slow sales during the Christmas season which could imply better sales at its competitors.
Vodafone was rumoured to be interested in the company last October, although it would almost certainly have to make sizable cuts in the UK operations if a takeover was to be approved by the government due to the scale of their respective retail outlets. Carphone Warehouse and Vodafone declined to comment.
Carphone has some 2,337 stores across Europe, with over 70 Best Buy Mobile in-store stores in the USA. The company aims to increase its US presence to over 1,000 locations within Best Buy stores by the end of next year.
source
"Old Vodafone bid rumours are doing the rounds. Also, there is continued interest on the back of expected strong Christmas sales, specifically on the iPhone," an unnamed trader told Reuters.
However, some analysts think that the jump is just general share trading as the shares were down earlier this week. Also, rival UK electronics retailer DSG reported slow sales during the Christmas season which could imply better sales at its competitors.
Vodafone was rumoured to be interested in the company last October, although it would almost certainly have to make sizable cuts in the UK operations if a takeover was to be approved by the government due to the scale of their respective retail outlets. Carphone Warehouse and Vodafone declined to comment.
Carphone has some 2,337 stores across Europe, with over 70 Best Buy Mobile in-store stores in the USA. The company aims to increase its US presence to over 1,000 locations within Best Buy stores by the end of next year.
source
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