Dixons Retail and Carphone Warehouse are in merger talks that could create an electrical goods and mobile-phone group with a market capitalisation of close to £3.5 billion (€4.12bn).

A combination of Dixons, Europe’s No. 2 electricals retailer, and Carphone, Europe’s largest independent mobile-phone retailer, would likely place the merged group in Britain’s FTSE 100 index of leading companies.

“The boards of Dixons and Carphone Warehouse note the recent speculation and confirm that the two companies are in preliminary discussions regarding a possible merger of Dixons and Carphone Warehouse,” the firms said in a joint statement to the London Stock Exchange.

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