Best Buy to launch early... and bid for DSGi?

19 April 2010

Bitterwallet - Best Buy starts recruiting Big fat cigar-chomping Yank electrical retailers Best Buy are coming to the UK – and even though there’s no planes and everyone is contemplating a return to a rustic, non-electric lifestyle, it’s going to happen sooner than we thought.

They’ve brought forward the opening date of their first store, in Thurrock, Essex to Friday 30th April – a week earlier than originally announced. They’re promising a ‘four-day launch festival’ with amazing deals and no doubt, some party poppers and balloons.

As it stands, Best Buy, who are operating in the UK in conjunction with Carphone Warehouse, plan to open between 70 and 80 UK stores by 2013. Or do they?

Speculation in the financial press (well, the Mail) suggests that Best Buy have put together a shopping list of potential acquisitions… with DSGi at the top of the list.

Rather than take on the Currys and PC World competition, could Best Buy just be plotting to buy them out? The Mail believes that a friendly £2.2 billion bid could be in the offing. Now what do you all think about THAT sack of plums?

TOPICS:   High Street News   Gadgets

21 comments

  • snoogans81
    As a Comet employee, all I can do is get on the Jobcentre website pretty quickly then if this happens. Eeek.
  • PLUM
    Only a week old article? Tut Tut. You'll be posting up to date, non apple, factually correct posts before you know it
  • Jason
    Drove past the Best Buy in Thurrock at the weekend and it was hosting a "Invited Guests Only" event. Staff were wearing the khaki trousers and Bue shirts. And guests had what i can only assume were Best Buy goodie bags. Looked like there were quite a lot of people there.
  • Klingelton
    No doubt those iReporters from the gadget show will be reporting on this soon.
  • Ian P.
    Why pay over 2 Bilion for a business with a un-proven -in the current environment- business model... Better to compete and beat them to drive DSG share price down then make a bid.........
  • Steve
    DSGi are in profit at the moment and things are getting better, I was informed the other day the DSGi don't need to sell and especially to Best Buy, however I have been told things weren't going to happen before and they did..... At the end of the day it's a win/win situation, all this speculation has no doubt pushed the DSGi share price up (I haven't looked) and if they did sell to Best Buy they're supposedly a good company to work for.
  • JC
    I went to the event at the weekend for staff and friends - it was CRAP for prices The only good thing about the store was that you could see they've put thought into it - there was a 3D TV room, where you could try out the 3D TVs currently available, a games room, where you could play a game on their 55inch screen, an Apple section, Xbox games and PS3 games to play My highlight was getting to sit in a Tesla Roadster that was there in the store Prices were exactly the same as Currys instore, and we were offered 10-20% off everything - unfortunately, every price could have been beaten online, and I didn't find a single thing to buy. There were no freebies. The staff were very friendly (like American TOO friendly), shaking everyones hands and making friends with every person in sight (makes a change to the teenage nobs that work in Currys I guess) All in all, the only positive thing I can see for myself is messing about with a product before I go and buy it online.
  • Brad
    This lot are not going to be massively cheaper then what the other lot are doing are they? It be a few quid here and there at most, dont know why bitterwallet is pinning their hopes on them so much?
  • spunki
    dsgi arent selling. you cant buy someone out if they arent willing to sell. as a dsgi employee we're constantly lied to tho....
  • buymorebod
    One of the internal blogs commented on this - "we're not selling, we're not selling, we're not selling. Unless the price is right because we're a publically traded company". I might have paraphrased a little there, but that was the general upshot. There's a lot of 'no comments' around at the mo too. But at the end of the day, who knows really (and it's sure as hell isn't the Daily Mail)
  • dunfyboy
    So, a 4 day bonanza, then most probably the most expensive Best Buy shop in the world.
  • you w.
    Fancy announcing a story like that... 14 days before they open a new store!!!!!!!! The real truth ... Best Buy have a marketing company that starts rumours that aren't true, just so they can get some coverage in the newspapers before a major event. Its picked up by websites and their name is plastered around the world. you fell for it.... and covered it.
  • Phil
    Whens the Hedge End store opening then? Two minute walk from work and the store has looked ready for weeks. Hope the prices aren't as poor as reported.
  • Banic! D.
    I hope they bring this out soon I need some new stuff ot buy there.
  • peter
    i work for dsg and as i understand it we would be foolish not to become best buy as for comet i feel bad for them as i have been told kesa are about to drop them as a bad investment first b&q now this bye bye comet rip
  • Steve
    Ref ,, the internal blog , and in reply to spunki As DSG employee , It was funny to read our dear MD's weekly blog regarding the possibility of a Best Buy bid. It read like he was almost waving the white flag himself. As he pointed out, were a public traded company , if best buy want us they could just buy us out, but it'll cost em a lot.. easily a couple of billion . its wether its cheaper from them to buy us out or try to kill us over a longer term. They should in theory be able to undercut us on price due to their greater buying power. either way , comet are fu**ed, i can't see kesa being able to carry on the fight against 2 major players at the same time
  • Exclusive: B.
    [...] In the same week that Best Buy opens its first UK outlet, Bitterwallet has learnt that all DSGi stores – Currys, PC World and Currys Digital - will not be able to offer payment plans for purchases for up to six weeks. Two sources at the electrical retailers have independently confirmed that customers will not be offered credit for the time being, after the company’s retail sales agreement with HFC Bank was ended. [...]
  • Rich
    I was in the Shanghai Best Buy a few weeks back and it was WAY overpriced! Most items were at least 20% more than the UK. Not sure if that reflected Chinese prices for japanese lectronics goods in general but I was hoping BB UK woul dput some competition in to the market in the UK. Sadly it seems not. Looks like I will hold off on portable electronic shopping till I get to BB USA stores as usual...
  • Nicky M.
    cheers very much, I have to say your site is excellent!
  • Dick M.
    Thanks for the best financial blog article. It has given me much to think about. I will have to tell my family and friends about this. Thanks once again!
  • pcw
    It looks more and more likely Best Buy is to buy out Comet from Kesa......or is it a trick? As they most probably want DSGI to become number one in the Uk. Best Buy are putting out stories for Comet to drive less interest in DSGI to push their share price down and then swoop on DSGI. The story continues......

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment