LONDON (Alliance News) - Phones 4U Finance PLC Friday confirmed that it has agreed a deal with Vodafone Group PLC to take on 140 of its stores and preserve 887 jobs for UK store employees, following its fall into administration.
The deal follows a transfer of more than 800 staff to newly formed Dixons Carphone PLC. The stores will be re-branded as Vodafone stores over the coming weeks, following a period of transition, Phones 4U said.
The deal is subject to court approval, and Phones 4U said the terms of the deal are confidential.
Shares in Vodafone Group closed up 1.3% at 206.00 pence Friday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Vodafone (VOD)