Now that Carphone Warehouse has set the end of March to officially demerge its two units (TalkTalk and New Carphone Warehouse), it has finally revealed how the new companies will look.
Under the proposed plan, the company will be separated into two holding companies: TalkTalk, which would focus on providing telecom services, and New Carphone Warehouse, a retail arm consisting of a 50 percent piece in Best Buy Europe and 47.5 percent piece of Virgin Mobile France. Both TalkTalk and New Carphone Warehouse will be traded as standalone units on the London Stock Exchange.
As expected, the demerger will come with a fair amount of executive shuffling. Overseeing both units will be current Carphone Warehouse CEO Charles Dunstone, who will take on the chairman role of both TalkTalk and New Carphone Warehouse. Dido Harding will become TalkTalk's CEO, while Carphone's current CFO Roger Taylor will become CEO of New Carphone Warehouse.
- Financial Times has this article
U.K.'s TalkTalk gets high on fiber-based broadband
Carphone Warehouse - Watch List 2009
U.K. local loop unbundling: 6 million lines and counting
Carphone Warehouse buys Tiscali U.K. ops