Mergers and Acquistions News
Categories: Telecoms
November 19th 2008, 16:08PM
Carphone Warehouse could demerge its telecoms business in an attempt to improve performance during the economic downturn, it has been revealed.
Analysts have long predicted that the company might look to spin off its fixed-line and broadband services and this has now been confirmed by the company, Reuters reports.
However, the business has ruled out making a decision until spring of next year at the earliest and it certainly will not be looking to divest its telecoms business.
Speaking to the news provider, Roger Taylor, finance director of the firm, said: "There's no interest in selling the telco asset... We think we're well positioned to exploit the opportunity of the asset that we've invested heavily in for the last two or three years."
The news comes as Carphone Warehouse warned it is facing the toughest outlook it has ever experienced.
Yesterday, Nexit Ventures announced that its Infocom II fund has now raised €75 million (£63 million) to invest in telecoms firms.
The fact that its targets are largely early and growth stage firms could mean it is unlikely to consider Carphone Warehouse as a suitable venture.
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