Best Buy Makes Carphone Buyout, U.K. Exit Official
Best Buy Monday officially announced that it is both buying British mobile retail giant Carphone Warehouse out of its share of the Best Buy Mobile venture, and closing its big box stores in Great Britain.
The moves were described by the company as an effort to "accelerate its business model to capitalize on the exciting 'Connected World' growth arc."
Best Buy and Carphone Warehouse are also creating a venture called "Global Connect." Best Buy described its mission as to "provide the intellectual capital and connections expertise that has created the market-leading customer experience in North America and Europe to other markets worldwide."