PREVIEW-Carphone, Best Buy to unveil Europe expansion plan

Fri Oct 10, 2008 1:08pm BST
 
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* Carphone Q2 trading statement, 1200 GMT, Tuesday Oct. 14

* Investor day in Chicago to detail electricals market plans

* Q2 connections seen up 7.4 pct; 46,000 broadband additions

By Mark Potter

LONDON, Oct 10 (Reuters) - Britain's Carphone Warehouse (CPW.L) and U.S. partner Best Buy (BBY.N) could signal plans for over 100 new UK shops on Tuesday, as the first step of their assault on Europe's electrical goods market, analysts believe.

The strategy announcement will come alongside what is likely to be a downbeat trading update from Carphone Warehouse as it battles a slowdown in consumer spending, and will add to pressure on embattled electrical goods groups DSG (DSGI.L) and Kesa (KESA.L).

Best Buy agreed in May to buy 50 percent of Carphone Warehouse's European and U.S. retailer interests for 1.1 billion pounds ($1.9 billion), creating a joint venture to expand into Europe.

The venture's chief executive, Roger Taylor, told Reuters in July that it would open its first store in the UK in the first half of next year, but it has not given further details.   Continued...

 

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