Carphone Warehouse will announce that it is buying the German business of Hutchison Telecommunications, the Financial Times reports. At its annual results on Tuesday, the company will reveal that it is paying almost £40m (EUR 56m) for the German business, which manages the accounts of almost 700,000 mobile phone customers on behalf of the established local operators. Charles Dunstone, chief executive of Carphone Warehouse, is under growing pressure to shut its German business. This move is part of plans by Carphone to transform its underperforming German operations. Carphone Warehouse currently has a target to return its German operations to profit in the year to the end of March 2004.
