Dixons: 'nothing happening' with BC Partners
Talk of a counter-bid for the listed UK-based electrical goods retailer Dixons Retail from BC Partners was downplayed yesterday, 24 March, the Financial Times reported. The newspaper’s market report section cited people familiar with the companies who said there was nothing happening.
The article noted a report yesterday that the buyout group BC Partners had approached Dixons about a counter offer to the proposed merger with Carphone Warehouse.
BC Partners had planned to list its Phones4U mobile phone retailing business, but those plans are on hold, the item said. Investors said it was therefore unsurprising that BC Partners would look to reverse Phones4U into Dixons, according to the newspaper.
A Daily Telegraph report said Phones4U is believed to have sounded out Dixons about expanding their commercial relationship, under which Phones4U has retail outlets in Dixons' Currys and PC World stores. The newspaper did not cite a source for the claim. However, it is understood that Phones4U and Dixons are not in discussions regarding a merger or takeover, the article added.
BC Partners owns Mergermarket Group, publisher of this news service.
Dixons Retail’s share price closed 0.11p down at 50.00p in London yesterday, giving the company a market capitalisation of GBP 1.83bn.
Source Financial Times, Daily Telegraph