Dixons Carphone completes disposal of The Phone House Deutschland
Telecoms retailer Dixons Carphones has reached an agreement to sell The Phone House Deutschland GmbH to Drillisch AG, a leading mobile virtual network operator in Germany.
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The FTSE 100 group said the disposal was in line with the group’s strategy and that it followed a period of “significant restructuring” for its German business.
Dixons added that it will receive circa 3% in shares of the Drillisch AG Group, with potential further deferred payments from future excess cash flows once the deal is completed by the end of May.
Group chief executive Sebastian James said the disposal was a “positive move” aimed at securing the future of the remaining operations within The Phone House Deutschland.
Dixons shares were up 1.92% to 444.90p at 09:06 on Wednesday.