Carphone Warehouse’s merger with Dixons has been unconditionally cleared by the European Commission.
The retailer unveiled details of its merger to create a £4bn technology retail giant in May. The merger is anticipated to deliver cost savings of at least £80m on a recurring basis.
In a statement to the stock market Dixons Carphone said: “The boards of Dixons and Carphone are pleased to announce that, earlier today, the European Commission confirmed that it has unconditionally cleared the merger following its phase I review.
“The merger will be subject to the satisfaction or waiver (if capable of waiver) of the remaining conditions to be set out in the scheme document which is expected to be published shortly.”
In May Dixons Carphone chief executive Sebastian James said: “The ability to take what we have built in electrical retailing and add the profound expertise of Carphone Warehouse in connectivity would make us a leading force in retailing for a connected world.
“Together we can create a seamless experience for our customers that will enable technology to deliver what it promises - that is, to make their lives better.”
Carphone Warehouse chairman Charles Dunstone, who chairs the newly merged company, said in May: “We have a deep respect for each other and we see the merger of these two great companies as an opportunity to bring our skills together for the consumer and build a new retailer for the digital age.
“We are also creating jobs and we see many opportunities for further growth.”