Are Best Buy eyeing up a bid for Comet?

14 October 2010

new comet logo Here at Bitterwallet, when we’re not chewing tobacco, reading the complete works of Marcel Proust, learning to play the zither or relaxing with a few rounds of DentistBall, a brand new sport that we completely made up ourselves, we’re keeping a keen eye on the stock market.

Thus, we were intrigued yesterday by the veritable flurry of activity around shares of Kesa Electricals, the Anglo-French owner of Comet and European chain Darty (no, us neither).

The word in the trading world is that Best Buy are readying themselves for a buy-out bid, in a speedy attempt to increase their UK presence after dipping their toe in the water with a handful of brand new store openings.

More than 21 million Kesa shares traded yesterday, about seven times as many as usual and the share price ended the day 14.4% up at 165.2p as rumours of a Best Buy swoop did the rounds (private equity investment has also been mooted as a possibility).

Bitterwallet - Best Buy starts recruitingHowever, one market analyst is reported to have said that a move on Kesa by Best Buy would only be viable “if they woke up one day and found that they had more money then sense”. Hell, we’ve all been there - you should see how much we paid for these zithers.

So it could be something, or it could be nothing, or it could be something. Us, we’re getting back to another game of DentistBall. We’ve got Mof pegged into the blue corner halfway through the seventh quarter with only one drill left and we’re going in for the murder check-up.

TOPICS:   Gadgets   High Street News

9 comments

  • evil r.
    Here at Bitterwallet, when we’re not chewing tobacco, reading the complete works of Marcel Proust, learning to play the zither or relaxing with a few rounds of DentistBall, a brand new sport that we completely made up ourselves, we’re keeping a keen eye on the stock market. put the above in a cupboard and lock the fucking thing
  • Phil
    I was interested until your "market analyst" link proved to be from the Daily Mail
  • Phil
    Well as I work 500 yeards from bestbuy in hedge end southampton. I hope they don't - the prices in store are really poor. I'm finding better bargains in the PCWorld/Currys megastore and thats saying something! I really hoped they would be better than PCWorld etc but they just haven't managed it at all.
  • charlie
    Andy D, tell us more about dentist ball. Sounds similar to another game we made up at work, your in the middle of a room, you got a lion in one end of the room, a crocodile in the other and some cats and foxes in the other, all the animals are hungry!. How do you escape! Phil, you prob find better bargains online compared to going into any retail store.
  • Brad
    I said it at the time and Ill say it again. Best Buy will be just the same as the others after a few months after the new stores are open.
  • Jack T.
    Doesn't seem much point in becoming Comet mark 2. They take one weak competitor out of the market but what are they saving? They'll refit the stores anyway There are enough vacant premises around and at a lower rents now than Comet will have negotiated a few years ago. They'd take on existing staff with all the costs involved. Not a good deal.
  • Wibble
    Go into a best buy in Canada or USA and you will think you've been having a bad dream and woken up in PissyDixCurryCumetland. Full of the same spotty greasy wankers with lethal BO following you around the shop like they want to shag your leg. The only difference is that the sound of their voices makes you want to punch their lights out. Oh, hang on, that's the same too....
  • A w.
    Wibble, What do you do? Do people have the same level of respect for your role as you have for me. I work in an electrical store, and day by day I give customers the very best advice on purchases - before and after the sale. Me and my colleagues pride ourselves in knowing our stuff and make sure that the customer is happy with their purchases afterwards. What do you do? In short - your opinion of the staff is poor to say the least. If you don't like us then go and buy elsewhere... just don't come back when you have trouble setting it up etc... because we don't want to talk to your type either. My opinion of you is the same....wanker - simple, shag your leg? - no I'd rather break it. Oh aye - come and punch my lights out - if you can reach me. Not all of us are spotty little teenagers mate. Let Best Buy purchase Comet - you'll have another Asda with fake smiles and minimum wage staff - oh and that good advice that you get from few quality staff that are left, that will disappear when we go.
  • cnatser
    well jack of no trades says it all you degenerate scum bag... my colleagues are not as you described but knowledgeable proffesionals who deal with the odd degenerate like your self no doubt you are doing well for your self.....lol get a life and understand people are not all the same except for people like your self un educated and rude...

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