Currys shareholder calls for mobile phone business sale
Hambro, which holds a 4.5% stake in Currys, was one of the firms which urged Currys to hold out for a £1bn valuation
Currys shareholder JO Hambro has called upon the business to sell its mobile phone business ID Mobile, according to The Sunday Times.
ID Mobile is valued at around £350m and this news follows two failed takeover bids for the electrical retailer.
Last month, both US investor Elliott and Chinese retail giant JD.com walked away from takeover talks with Currys.
Hambro, which holds a 4.5% stake in Currys, was one of the firms which urged Currys to hold out for a £1bn valuation.
Hambro said in a letter to investors: “The pressure will now be on the board to realise shareholder value, where our favoured option would remain the sale of ID Mobile.”
ID Mobile was launched in 2015 by Carphone Warehouse, the mobile phone business owned by Currys, to sell mobile phone contracts and now has more than 1.5 million subscribers.
