(Alliance News) - Dixons Carphone PLC subsidiary Carphone Warehouse is suing the owner of O2, Telefonica SA, claiming the mobile network caused it to suffer a GBP21.7 million shortfall in profit by breaching its obligations, the Sunday Times reported.
The FTSE 250-listed retailer has issued a High Court writ accusing telecommunications firm Telefonica of failing to make "enough" special offers available, refusing to hand over customer data and offering "uncompetitive" standard tariffs, which stopped Carphone Warehouse hitting sales targets agreed with O2.
As a result, Carphone Warehouse claims it lost GBP9.6 million of profit plus GBP4.5 million it would have received from Telefonica for achieving targets.
In turn, Telefonica said it would make special-offer tariffs available only if Carphone Warehouse accepted a cut in its share of sales, which it refused to do.
https://www.thetimes.co.uk/article/carphone-warehouse-sues-telefonica-over-21m-shortfall-vnqgcqtxd
Dixons Carphone shares were up 1.0% in London on Monday at 112.15 pence each.
