Companies

May 8: Carphone and Best Buy deal to shake up sector in Europe

Carphone Warehouse is to sell half its interests in retail to the US electronics retail giant Best Buy. Andrew Parker, telecoms editor, says the deal is likely to cause significant upheaval not just in the retail sector as the two companies use the retail outlets to sell consumer electronics but also in the telecoms sector as Carphone may use some of the proceeds of the sale to buy Tiscali's UK broadband services.