Carphone Warehouse has confirmed it is to close its 11 Best Buy stores in the UK, putting 1,100 jobs in jeopardy. The news follows a decision by the group's founder, Charles Dunstone, to sell his stake in a US mobile phone joint venture with Best Buy, as first reported by Sky's City editor Mark Kleinman. The US electrical chain will pay £813m upfront, which is expected to be returned to shareholders, as well as an additional £25m in deferred consideration. Despite "exceptional customer satisfaction scores" the company's European arm has not performed well financially. Best Buy Europe posted operating losses...