Best Buy invests $2.1B in European cell company; will open European stores



by Carissa Wyant, MSP Biz Journal

“Best Buy Co. Inc. plans to open its first stores in Europe, after investing $2.15 billion in a joint venture with Carphone Warehouse Group.

Under terms of the deal, Richfield-based Best Buy (NYSE: BBY) will get a 50 percent stake in London-based Carphone Warehouse, which has 2,400 retail stores in nine European countries. The Business Journal previously reported that Best Buy bought a 3 percent stake of Carphone Warehouse for $183 million last year.”

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