Carphone considers spinning off TalkTalk

By Rupert Steiner for the Daily Mail
Updated: 07:50 BST, 17 November 2008

?

Carphone 倉庫／問屋 is considering demerging its TalkTalk phonecalls and broadband 商売／仕事 as part of a 戦略の review.

Spinoff: Carphone 倉庫／問屋 may demerge from TalkTalk

Sources 推定する／予想する that tomorrow, when the 会社／堅い 発表するs its 暫定的な results, it will tell 投資家s it is 'at the very 早期に 行う／開催する／段階s' of 評価するing a 計画（する） to spin off TalkTalk into a 分かれて 名簿（に載せる）／表（にあげる）d company.

Carphone has yet to 任命する 銀行業者s and should it proceed, any break-up would be 延期するd until 井戸／弁護士席 into next year when market 条件s could 改善する.

投資家s have been 押し進めるing 長，指導者 (n)役員／(a)執行力のある Charles Dunstone, who owns 32.6%, to a way of 解放（する）ing value in the 会社／堅い he co-設立するd.

複合的な／複合企業体s often find 分割s that are spun off are 価値（がある） more than when they were grouped under one 法人組織の／企業の owner.

Known as a 複合的な／複合企業体 割引, the whole is いっそう少なく than the sum of the parts.

This is why large 投資家s are agitating for change.

Carphone is 価値（がある） £1.3bn, いっそう少なく than half last year's 人物／姿／数字 of £3.4bn, and its 株 have 宙返り／暴落するd to 145p from 372p in August 2007.

The London-based 会社／堅い has 苦しむd from より小数の broadband subscriptions as より小数の 顧客s move home and shop about.

消費者s have also held off 昇格ing 動きやすい handsets to save cash.

分析家s say TalkTalk could be 価値（がある） £900m. It is Britain's third broadband 供給者 with 2.8m 顧客s and 含むs AOL UK.

It also has its own 動きやすい 網状組織, Fresh. The 小売 商売／仕事 is a major 販売人 of 動きやすい phone handsets through a 網状組織 of 2,400 蓄える／店s and it 貿易（する）s under the Phone House brand in 本土／大陸 Europe.

Dunstone has already been busy reorganising the 小売 分割 into a structure that would make it easier to demerge.

He has put it into a 共同の 投機・賭ける with Best Buy, an American electronics retailer that paid £1.1bn for its half of the 部隊. They 計画（する） to open 蓄える／店s together across Europe next year.

But sources の近くに to Duns トン say he is 用心深い about a demerger because of 現在の market 条件s and believes most retailers are 焦点（を合わせる）ing on just 'staying alive'.

分析家s 予報する Carphone will 地位，任命する a 減少（する） in six-month 利益（をあげる）s from £56m to £45.2m.