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.