Carphone Warehouse and Dixons extend merger talks

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Carphone Warehouse and Dixons’ talks to merge are set to continue as the two retailers announced they have been granted an extension by the Takeover Panel.

The High Street chains began talks about a £4 billion merger last month and the “put up or shut up” deadline was set for today. The new deadline is May 19.

The groups said: “Discussions are still ongoing and there can be no certainty that a firm offer will be made.”

It is expected that if the merger goes ahead, Sir Charles Dunstone, founder and chairman of Carphone Warehouse, will chair the new company, and Dixons boss Sebastian James, will become chief executive.