Best Buy Acquires Partner's US Mobile Stake For $1.3B

Law360, New York (November 7, 2011, 4:08 PM EST) -- Best Buy Co. Inc. has pulled a series of strategic moves, including the $1.3 billion buyout of its British partner's stake in their lucrative Best Buy Mobile joint venture in the U.S. and Canada, aimed at furthering its Connected World business model, the Minnesota-based company announced Monday.

The global retailer said it will purchase Carphone Warehouse Group PLC's interest in the Best Buy Mobile profit-sharing agreement in the U.S. and Canada as part of a growth arc designed around selling connections on more devices.

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