Retail-focused Carphone Warehouse, which will take on the group's 50 per cent share of Best Buy Europe, will push ahead with plans to open a number of consumer electronics shops in the UK.
Best Buy Europe will open its first UK store in May, with a site in Thurrock, Essex the first location. Outlets will open in Hedge End, Southampton and Merry Hill, West Midlands in June, with a store in Aintree, Liverpool due to open later this summer.
TalkTalk was worth 60 per cent of the combined company, according to the Financial Times, but could become a takeover target, the newspaper said, citing British Sky Broadcasting as a possible bidder.
The FT said TalkTalk could struggle to compete with the likes of BT, which is currently investing in a super-fast, fibre-based broadband network.