Best Buy to buy Carphone out of U.S. venture: source

Reuters

Best Buy

The deal, first reported by Sky News, is expected to be announced on Monday alongside news the joint venture will also close its loss-making megastores business in Britain.

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The person said Carphone Warehouse would return some of the proceeds from the sale of a share in profits of Best Buy Mobile to its shareholders.

Carphone Warehouse declined to comment. Best Buy could not immediately be reached for comment.

(Reporting by Mark Potter; Editing by Matt Scuffham)

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