The Carphone Warehouse and Dixons Retail have agreed a £3.7 billion all-share merger, creating a mobile phone and electricals company with around 2,900 stores across Europe.
The new firm will be split equally between the firms' existing shareholders.
Carphone Warehouse, Europe's biggest independent mobile phone retailer, and Dixons, Europe's number two electricals retailer, said the new company would be called Dixons Carphone PLC.
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