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Best Buy says goodbye to Europe

Best Buy is pulling out of a big joint venture in Europe. The company is selling back its 50 percent stake in the mobile phone retailer Carphone Warehouse, at a significant loss.

Best Buy is pulling out of a big joint venture in Europe. The company is selling back its 50 percent stake in the mobile phone retailer Carphone Warehouse, at a significant loss.

Marketplace's Stephen Beard joins Morning Report host Jeremy Hobson to explain why the company is pulling back and whether it represents a trend of U.S. companies retreating from Europe.

About the author

Stephen Beard is the European bureau chief and provides daily coverage of Europe’s business and economic developments for the entire Marketplace portfolio.

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