Carphone Warehouse in fixed line Spanish deal

Mobile phone chain Carphone Warehouse has said it is to buy Spanish fixed-line operator Xtra Telecom for €11.5m, with an additional €12.2m to be paid If Xtra meets profits targets over the next two years.

The British mobile phone retailer said the deal would provide it with a solid basis for a move into the Spanish fixed-line telecoms market. The company said it planned to launch a residential fixed-line service in Spain using the Xtra network within the next six months.

Carphone Warehouse is the largest independent retailer of mobile communications in Europe with more than 1,100 outlets, 32 of which are in Ireland.