Rumour Mill: Carphone Warehouse on the block?

The share price of U.K. mobile phone retailer Carphone Warehouse rose sharply in the last few days following rumours of takeover bids from Vodafone and U.S. retailer Best Buy. The latter already has a three percent stake in Carphone Warehouse and the two companies work closely together. Best Buy could also be interested in beefing up its European retail presence. A takeover by Vodafone would create problems in the U.K. market and would almost certainly attract the attention of the monopolies regulator. Further clarification may be forthcoming on January 18th when Carphone Warehouse is scheduled to make a trading statement.

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