Online retailer musicMagpie has announced that it has entered talks with BT and investment group Aurelius regarding its sale. The discussions come after EE, the telecoms group’s mobile and retail division, last month announced it would sell kitchen appliances from next year in addition to the entertainment products such as laptops, cameras and smart TVs it already sells. It also plans to expand its gaming, insurance and subscription services.
“With an EE ID, customers nationwide will be able to access a wide range of exciting new products, services and experiences across new sectors – easily and conveniently, in one place,” said EE CEO Marc Allera.
“Consumer behavioural patterns have changed, and it is about time telcos evolve. This latest revolutionary move represents a radical and fundamental shift in thinking and approach in the way a telco operates. In essence, the new EE aspires to be more – a broader tech and services retailer underpinned by connectivity.”
On the other hand, musicMagpie, which sells second-hand computers, consoles, tablets, CDs, DVDs, games, and books as well as phones, said it is in early-stage discussions with both the telecoms group and Aurelius.
To recall, musicMagpie became a public company in 2021, listed on the London Stock Exchange. At that time, it had a valuation of £200 million, which has since collapsed to just £20 million.