Dixons Carphone sells Phone House Deutschland
Dixons Carphone has entered into an agreement to dispose of The Phone House Deutschland to the German mobile virtual network operator Drillisch.
The disposal follows a period of significant restructuring for the German business.
Following completion of the deal, which is expected to take place by the end of May, Dixons Carphone will receive around 3% in shares of the Drillisch AG Group, with potential further deferred payments from future excess cash flows.
Dixons Carphone group chief executive Sebastian James said: “Having previously announced the disposal of our retail operations and the closure of our wholesale hardware operations in Germany, today’s announcement is a positive move to secure the future of the significant remaining operations within The Phone House Deutschland through a partnership with Drillisch AG, a highly professional, successful and growing business.
“At the same time, this transaction enables Drillisch to broaden its horizons into wholesale connection and dealer operations.”
Dixons Carphone said it had also agreed a long-term service contract for the provision of insurance through its Connected World Services division.
James added: “We believe that this is the start of a strong, healthy and growing business together and I could not be more pleased to be working with this excellent team.”
