Dixons Carphone offloads Spanish business for £48m

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Dixons Carphone Spanish

Dixons Carphone has sold its Spanish business for €55 million (£48.46 million) as it continues its withdrawal from mainland European markets.

The electronics retailer said its The Phone House of Spain, Smarthouse and Connected World Services Europe fascias have been sold to Bilbao-based Global Dominion Access.

The proceeds from the sale would be invested back into its business, Dixons Carphone said.

READ MORE:  Dixons Carphone posts double digit growth

The move follows a similar sale in 2015, when the retailer sold its Phone House businesses in The Netherlands, Germany and then Portugal.

It also comes just weeks after it posted strong financial results, with its services division driving the company’s 10 per cent uptick in pre-tax profits to £501 million.

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