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RadioShack Buys Out Mexican Partner

12/17/2008 03:24:00 PM Eastern

Fort Worth, Texas — RadioShack has assumed control of Radio Shack de Mexico after buying out its Mexican partner’s share in the joint venture for $43 million.

Radio Shack de Mexico operates approximately 200 RadioShack stores south of the border and employs about 1,200.

RadioShack formed the joint venture with retail conglomerate Grupo Gigante in 2003.

“Radio Shack de Mexico represents an attractive growth platform for our company,” said chairman/CEO Julian Day. “This is a business we know well through our experience with the joint venture and the RadioShack brand has strong equity among consumers in Mexico.”

RadioShack will operate the company’s stores, general office, service center and distribution center in Mexico as a wholly owned subsidiary. The stores, all leased locations, average about 1,300 square feet and are primarily located in shopping centers.

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