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EU regulators to okay $6.4 billion Dixons, Carphone merger: sources
June 17, 2014 / 1:06 PM / 3 years ago

EU regulators to okay $6.4 billion Dixons, Carphone merger: sources

BRUSSELS (Reuters) - Britain’s Carphone Warehouse CPW.L and Dixons Retail DXNS.L will secure unconditional European Union antitrust approval for their 3.8-billion-pound ($6.38 billion) merger, two people familiar with the matter said on Tuesday.

The headquarters of Carphone Warehouse is seen in west London May 15, 2014. REUTERS/Toby Melville

Carphone, Europe’s biggest independent mobile phone retailer, and Dixons, Europe’s second largest electrical retailer, hope the proposed tie-up will help them capitalize on the growing popularity of smartphones connected to consumer electronics such as ovens and fridges.

Last month, the European Commission asked British retailers whether the merger would push up the prices of mobile phones and tablets because of the combined company’s bigger market share.

The EU competition watchdog will clear the deal without requiring concessions from the companies, indicating it does not have any concerns, said one of the people.

Commission spokesman for competition policy Antoine Colombani declined to comment. The agency has set a June 25 deadline for its decision.

Dixons owns the Currys and PC World chains in Britain, Elkjop in Nordic countries and Kotsovolos in Greece.

Reporting by Foo Yun Chee; Editing by Adrian Croft

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