Major shareholder calls for divestment in the wake of failed takeover attempts
- Currys shareholder calls for sale of mobile phone business
- Fund manager JO Hambro urges Currys to sell ID Mobile
- ID Mobile valued at around £350 million
- US investor Elliott and Chinese retail giant JD.com walked away from takeover talks with Currys
- Hambro wants Currys to hold out for at least £1bn from a prospective sale
- Currys raised profit outlook for the year after strong sales since Christmas
A major shareholder of Currys, fund manager JO Hambro, is urging the company to sell its mobile phone division, ID Mobile. The subsidiary, valued at around £350 million, sells monthly phone contracts. This call comes after both US investor Elliott and Chinese retail giant JD.com walked away from takeover talks with Currys. Hambro, who holds an 8th largest stake in Currys, wants the company to hold out for at least £1 billion from a prospective sale. Currys recently raised its profit outlook for the year due to stronger-than-expected sales since Christmas.
Factuality Level: 8
Factuality Justification: The article provides information about a major Currys shareholder urging the firm to sell its mobile phones division after two failed takeover attempts. The information presented seems to be factual and based on statements from the shareholder and the company’s financial performance. There are no obvious signs of bias, sensationalism, or inaccuracies in the article.
Noise Level: 3
Noise Justification: The article provides relevant information about a major shareholder urging Currys to sell its mobile phones division after two failed takeover attempts. It includes details about the stakeholder, the value of the division, previous takeover talks, and the company’s profit outlook. The article stays on topic, supports its claims with examples, and offers insights into potential actions Currys could take. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: Currys and its mobile phones division
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses a major shareholder urging Currys to sell its mobile phones division, which could have financial implications for the company.
www.retailgazette.co.uk 
