A major Currys shareholder is urging the electricals retailer to sell its mobile phones division, ID Mobile, in the aftermath of two abandoned takeover attempts.
JO Hambro, a fund manager that holds a 4.5% stake in Currys, wants it to offload the division that sells phone contracts, valued at around £350m, according to The Sunday Times.
Last month, Currys was at the centre of two takeover attempts – one by US investor Elliott and another by Chinese retailer JD.com – both of which it walked away from.
Curry’s eighth biggest shareholder Hambro urged the retailer to hold out for at least £1bn from a sale.
The investor, which has upped its holding in the retailer since the activity began, said in a letter to investors: “The pressure will now be on the board to realise shareholder value, where our favoured option would remain the sale of ID Mobile.”
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