Best Buy Makes Europe Move
Best Buy has made its first-ever incursion into Europe, spending $2.1 billion for a 50 percent stake in the British chain Carphone Warehouse, Reuters reported Thursday.
Current Carphone stores in Europe will retain that name, and next year new, larger stores will be rolled out under the Best Buy brand. Previously, Best Buy had only been active in the U.S. and Canada, in addition to two stores it has opened in China.
Best Buy and Carphone had already been in business, as the companies teamed up starting in 2006 on Best Buy Mobile retail locations in North America.