London - U.S. consumer electronics and media retail chain Best Buy (NYSE: BBY) announced on Thursday that it paid $2.1 billion to acquire 50% of the Carphone Warehouse, a mobile phone retailer that counts over 2,400 stores in nine European countries.

The companies had already collaborated on Best Buy Mobile, a joint venture that sells mobile phones in a number of Best Buy stores, and the introduction of Best Buy's Geek Squad computer repair service in Europe.

The Carphone Warehouse said it intends to use the proceeds from the transaction to repay existing debt, and to invest in broadband customer growth and infrastructure, as well as new growth areas.

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http://www.carphonewarehouse.com