Best Buy ends its European adventure

04/30/2013 | Wall Street Journal, The

Best Buy will sell its 50% stake in U.K.-based mobile phone chain Carphone Warehouse for about $775 million, the last step in exiting the joint venture formed in 2008 with an investment of $2.15 billion. Under the venture dubbed Best Buy Europe, the companies planned to roll out big-box electronics stores in Europe and a chain of mobile phone stores in the U.S. Best Buy began pulling out of the partnership two years ago.

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