Back in March, UK electronics retailer Dixons announced that it had entered into merger talks with one of the largest independent mobile phone supplies in the UK, the Carphone Warehouse.
The last thing we heard was that if the deal was to go ahead, we would get some sort of official announcement from the two companies by the 19th of May.
Now according to a recent report by Sky news, the merger of the two companies will go ahead in a deal which is worth £3.7 billion pounds.
The merger of the Carphone Warehouse and Dixons will create one of the largest retailers in the UK, the new company is expected to be called Dixons Carphone Group PLC.
According to the report from Sky, the merger of the two companies will be done on a 50 / 50 basis, with each company receiving a 50 percent share of the new company.
We can expect some sort of official announcement from Dixons and the Carphone Warehouse on their merger within the next week or so.