Currys Share Discussion Threads

[muscletrade] 22/9/2014 10:31

@hippo, Voda have just renewed contract with carphone.
As for EE, they already had 520+ stand alone stores. Adding 58 hardly going to make a massive difference compared to last week....but what do I know.

[bluprince] 22/9/2014 08:44

Dixons to take around 50 ex Phones 4U stores in deal with administrators

hxxp://www.cityam.com/1411369366/ee-agrees-buy-58-phones-4u-stores

[hippo] 22/9/2014 08:05

EE are going it alone and as soon as vodafone can build a bigger enough high street presence they will too imho.

[mikepompeyfan] 22/9/2014 06:35

Obviously no competition of any kind would be preferable, however they will only be selling their own networks.
It still leaves cpw as the only place to go to get a cheapest tariff comparison.

Phones4u had 160 concessions in Dixons stores so hopefully we will have those 160 as well as any others they can open in time.

I would hope there will be some major advertising of the fact that cpw stores can be found in dxns stores. What a compelling shopping destination that will make. How many people will visit to buy one thing and then be tempted into buying other stuff while there, especially around Christmas time. Bet the women will love the new kitchen equipment areas and men the connected gadgets etc. In an improving economy l would very much hope overall sales figures will show a decent upturn over the next few years.

[anony mous] 21/9/2014 22:15

EE just announced they taking about 60 p4u shops.Well with Vodafone and EE doing this.... isnt this bad for DC ?

[billiam] 21/9/2014 21:30

How many store in stores will we have by Christmas now?

[billiam] 20/9/2014 20:18

So, won't be the Phones4U arena for much longer.

[bill hunt] 19/9/2014 18:53

140 stores to be re branded as Vodaphone

[pally1] 19/9/2014 18:31

I did say voda will take on phones4u stores

[muscletrade] 18/9/2014 22:29

"Phones 4U break-up looms as administrator dismisses debt-for-equity bid".

Well that didn't last long.

[smicker] 18/9/2014 13:32

Thats how private equity work. Company i worked for they paid themselves 300m while there was a big pension deficit.

[mikepompeyfan] 18/9/2014 11:42

Exactly what vodaphone said. With so much debt to service they could not afford to take even a small hit on their margins when negotiating.

[tim 3] 18/9/2014 09:46

So if I have this right phones 4 u, already heavily in debt borrowed another £200m via bonds then payed itself £200m in a cash dividend?

No wonder they cut ties dealing with a company operating like this.

They should de ashamed of themselves.

[muscletrade] 18/9/2014 07:25

I see in the Telegraph this morning that the Phones4U bondholders are prepared to agree to a partial debt for equity swap if Voda and EE will come back into the fold. This in order to save the jobs of the employees (not the half billion in cash they will lose any day now).Big of them.
It would be laugh out loud funny were it not for the employees.

The words shuffle,Titanic and deckchairs come to mind.

I expect the gullible bondholders will soon realise there was a reason the coupon on the bond was 10%. By being greedy they have been ripped off by others who were even greedier than they were.

[skinny] 17/9/2014 15:07

A bit more here

[mikepompeyfan] 17/9/2014 14:57

Presumably by implication that means all the phones4u instores are now Dixons. Excellent if so. Means plans are probably 9 months or so in advance of what was anticipated.

[hawaly] 17/9/2014 14:45

Dixons Carphone strikes Phones 4U staff deal
an hour ago

Dixons Carphone has confirmed that it has struck a deal with the administrators of Phones 4U to employ 800 staff that had worked in 160 concessions in its stores, reports Dan Thomas.

In a statement, Dixons Carphone said that it was "pleased to confirm we have secured agreement to offer all Phones4U colleagues (circa 800) in our curryspcworld stores roles​".

[rkjones] 17/9/2014 09:39

They are not interested in the entire estate, only wish to cherry pick. Outlets in DC stores unlikely to be of interest as contract runs out next year.

[pally1] 17/9/2014 09:33

What happens if ee and voda aquire phone4u outlets

[tim 3] 17/9/2014 08:46

Shares now below when the news hit I find that really surprising and you cant blame the ftse either.


free stock charts from uk.advfn.com

[pally1] 17/9/2014 07:47

I do recall voda wanted 121 stores in the uk

[mikepompeyfan] 17/9/2014 06:34

Two of the mobile operators that contributed to the demise of Phones 4U by withdrawing their business in the past few weeks are in talks with the administrator to buy parts of the company.
EE and Vodafone have each spoken separately to the administrator about acquiring elements of Phone 4U’s business, including some of the stores, staff and stock across the UK.
The moves could offer an escape route for thousands of staff who were set to lose their jobs in the largest retail collapse since the demise of Comet in 2012.
Dixons Carphone, the high street retailer, is also in talks to offer the 800 staff that work in Phones 4U concessions alternative roles within its own stores, according to one person with knowledge of the situation. Dixons Carphone could also be interested in some of the stores and in acquiring the company’s brands.
The person added that Dixons Carphone had agreed a waiver with the administrator allowing them to talk directly to the staff, which had previously been prevented by a “no-poaching” agreement.
PwC was appointed as administrator by Phones 4u owner BC Partners after the company lost major contracts with EE and Vodafone. Some 550 stores and 6,000 jobs are at risk.
One person close to the situation said that EE could buy anywhere between “a handful” and 80 of the stores, which would also save the jobs of the employees of those outlets.
A Vodafone spokesman said: “We can confirm that we have been approached by the administrators of the Phones4U business. We will not be commenting on the detail of those discussions.”
Rob Hunt, one of three joint administrators at PwC, declined to comment on the identity of the companies in talks to acquire parts of Phones 4U. He confirmed talks with three parties, however, to acquire “a combination of a proportion of stores, the people and some of the stock”.
Mr Hunt said that staff would be told today that money had been secured to cover wages for another day. PwC will keep the business “mothballed221; until tomorrow, he added, as there was not the ability to continue to trade the stores. A decision would be taken tomorrow about whether to continue for another 24 hours.
He said that there was also interest in buying the Phones 4U brand, either to keep it running or else to kill it off, while there was also talk about acquiring the 160 outlets that sit inside Dixons as a concession.
EE and Vodafone had briefly considered a takeover of Phones4U earlier this year, after being approached by the management, but did not proceed with the talks.
Executives at the operators insist that they are blameless in the demise of Phones 4U given their long-stated plans to pursue their own retail strategies.
One person familiar with the negotiations at EE said that terms being offered by Phones 4U were simply not attractive. Vodafone has blamed financial constraints imposed by BC Partners, which withdrew £200m from the group as a special dividend by adding debt to its balance sheet.
However, BC Partners has blamed the operators themselves for withdrawing from the chain, with founder John Caudwell adding to the criticism. He has called on the regulator to look at whether the operators had acted together to withdraw their business and cause the business to fail.
The argument turned increasingly heated this week, after it emerged that EE switched off the corporate network services that it provides to Phones 4U on Monday afternoon – although executives at the telecoms operator insist the move was accidental. Service was restored after Phones 4U management complained.

[katie priceless] 16/9/2014 12:42

Is that why the price fell

[cockneyrebel] 16/9/2014 11:39

D.Bank out with a Buy today.

CR