Discussions over a possible merger between Carphone Warehouse and Dixons are continuing as both firms updated the markets revealing that they require more time to come to a conclusion.
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Having informed the worldlast month that the talks had kicked off the retailers are keeping that spirit of transparency going gaining more time to discuss the deal, after they asked the Takeover Panel to grant them until 19 May to announce whether or not any offer would be made.
Even with the extension, on the initial deadline that ran out at 5pm today, the companies stressed that this is not an indication that any deal will be made and there can be no certainty at this stage a merger will be the conclusion.
The combination of the two retailers would create a £3.5bn entity with a network of 3,000 stores in the UK and Europe and would bring complementary expertise to both parties.
The last time Carphone Warehouse flirted with a move into the Dixons heartland was with a joint venture with US retailer Best Buy but after a couple of years and the opening of 11 UK stores and an online operation the shutters came down on that relationship.