Best Buy Drops $2.1 Billion on Carphone Warehouse

by Shane McGlaun

One of the biggest places to buy cell phones, accessories and other gadgets in America for many people is Best Buy. Best Buy announced this week that it would be buying 50% of Carphone Warehouse. The deal is valued at $2.1 billion.

The deal will put Best Buy stores in Europe and allow Carphone Warehouse to pay down debt and expand its broadband services and invest in new areas. The Carphone Warehouse has 2,400 stores in Europe. The deal allows Carphone Warehouse to retain 100% ownership in its landline businesses in Europe. Soon Europeans will be able to get cell phones in Best Buy stores like Americans have been doing for years.

Via Best Buy