DSG exits mobile phone retail
DSG international has offloaded its 60 per cent stake in The Link Stores to mobile operator, O2 for a £30 million cash payment.Herts-based DSGi, which operates a range of concumer electronics retailers including PC World and Dixons.co.uk, will retain the Linkplan insurance business and will also assist O2 in managing the Link stores for which DSGi will receive a management fee. Completion of the transaction, which is subject to approval by the relevant competition authorities, is anticipated to occur within four months.
John Clare, DSGi Group chief executive said: “The Link has delivered significant shareholder value since we created the business in 1994, much credit for which is due to The Link’s staff. We believe that it is now the appropriate time to divest our interest in The Link, as we intensify our focus on our core market-leading operations in multi-channel electricals and computing retailing across Europe."