LONDON (Reuters) - Shares in British electricals and mobile phone retailer Dixons Carphone rose as much as 7.6 percent after Sky News reported that activist investor Elliott Advisors is exploring plans to buy a “big stake” in the firm.
It said Elliott has been undertaking detailed analysis of Dixons Carphone’s finances for several weeks and might want the firm to sell off its Nordic and Greek businesses.
The group, which is due to update on trading on Tuesday, warned on profit in May last year. In December it slumped to a 440 million pound ($566 million) first-half loss and cut its dividend. Its shares have fallen 26 percent over the last year.
A spokeswoman for Elliott and a spokesman for Dixons Carphone both declined to comment.
($1 = 0.7775 pounds)
Reporting by James Davey; editing by Kate Holton