Best Buy after Currys, Dixons and Comet

Heading for European domination?

12 May 2008 14:02 GMT / By Katie Scott

It seems the Best Buy execs have been mighty busy.

Just last week, we reported on a £1bn joint venture will see US retailer Best Buy's vast array of consumer electronics sold through Carphone Warehouse.

And now we have news that Best Buy may be after an even bigger slice of the European electronics retail market.

PC Retail mag is reporting that Best Buy may have its eye on the DSGi group (which owns Currys, PC World and Dixons) and Kesa (which owns Comet).

Chief executive Brad Anderson told journalists that the firm may buy up smaller competitors in its bid to make its fledgling business in Europe as successful as operations in the US.

He specifically spoke of his company's interest in DSGi and Kesa saying: "It’s one of those things we have considered for years – and it’s not off the table either".

The rumour mill is also suggesting the German retail chain Media Markt – Europe’s largest electricals retailer – as a possible target for Best Buy.

In the meantime, Best Buy is now planning the locations of new shops that it will open across Europe following its acquisition of a half stake in Carphone Warehouse.