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Further shareholder returns possible at Dixons Carphone, says Oriel Securities

Thu, 15th May 2014 11:43

Oriel Securities has reiterated a 'buy' rating for Dixons Retail, saying that the announced all-share merger with Carphone Warehouse should be seen as a positive for shareholders.After months of talks the companies announced on Thursday a 'merger of equals' that would create a entity worth around £3.7bn as of Wednesday closing prices, Oriel said.The new company, to be named Dixons Carphone plc, is hoped to create a "world-class British retailer for the new digital age", offering consumer electricals, mobiles, connectivity and related services, the firms said.Oriel estimates that the enlarged group would generate £380m of earnings before interest and tax this year with a healthy net cash position in excess of £130m."At first glance, the benefits from the deal look positive, and accretive to earnings, raising the possibility of further shareholder returns, particularly as property losses and high coupon bonds unwind in the next three years," the broker said.BC
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30 Jun 2014 10:50

TOP NEWS: UK Mortgage Approvals Drop For Fourth Straight Month

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30 Jun 2014 07:38

Carphone And Virgin Enter Agreement To Sell French Joint Venture

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30 Jun 2014 07:31

UK MORNING BRIEFING: Shares Rise Amid Rush Of Company Reporting

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30 Jun 2014 06:52

Carphone Warehouse, Virgin agree Virgin Mobile France disposal

LONDON, June 30 (Reuters) - Britain's Carphone Warehouse and entrepreneur Richard Branson's Virgin Group have agreed to sell Virgin Mobile France, their joint venture mobile virtual network operator to Numericable for an enterprise value of 325 million euros. Carphone, Europe's biggest in

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26 Jun 2014 15:30

EU mergers and takeovers (June 26)

BRUSSELS, June 26 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- French utility EDF to acquire the domestic activities of French energy services company Dalkia which is now jointly

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26 Jun 2014 13:19

UK MIDDAY BRIEFING: House Builders Soar As BOE Stays Calm

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26 Jun 2014 10:54

UPDATE 2-Carphone, Dixons say winning investors over to merger

* Dixons FY underlying profit 166.2 mln stg, up 76 pct * Carphone FY headline EPS 18.4 pence, up 59 pct * Shares fell after May 15 merger news, have rallied since * Merger set to complete in August (Adds detail, CEO, investor comment, shares) By James Davey LONDON,

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26 Jun 2014 10:48

TOP NEWS: Barclays In Hot Water Over Dark Pool

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26 Jun 2014 09:29

UPDATE: Dixons Carphone To "Get Married" From "Position Of Strength"

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26 Jun 2014 07:53

Dixons Retail, Carphone Warehouse Post Higher Profits Ahead Of Merger

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26 Jun 2014 07:37

Full-year profit soars at Carphone Warehouse

- Big jump in annual profit to £67m - Dividend payment increased by 20% - Upbeat outlook following confirmed merger with Dixons FTSE 250-mobile phone giant Carphone Warehouse unveiled a robust set of full-year figures, upped its dividend payment by 20% and gave a positive outlook a day after its me

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26 Jun 2014 07:28

UK MORNING BRIEFING: London Stock Exchange Buys Russell Indexes

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26 Jun 2014 06:31

MARKET COMMENT: UK Stocks Set To Follow US, Asian Equities Higher

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26 Jun 2014 06:01

Carphone Warehouse earnings jump ahead of Dixons merger

LONDON, June 26 (Reuters) - Carphone Warehouse, Europe's biggest independent mobile phone retailer, met forecasts with a 59 percent rise in annual earnings as it prepares to merge with Dixons Retail. Last month Carphone agreed an all-share merger with Dixons, Europe's No. 2 electricals reta

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26 Jun 2014 05:11

UK Earnings, Trading Statements Calendar - Week Ahead

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