Breaking news this morning – and it’s a biggy in the internet world! The BBC Reports Carphone Warehouse has bought AOL UK for around £370 million.

The Carphone Warhouse has an aggressive internet strategy already and currently runs the largest chain of mobile phone stores in the UK. The Carphone Warehouse has said that it will be keeping the AOL name.

AOL will provide provide a co-branded portal and will manage the online advertising sales for the Carphone Warehouse’s broadband customer base through a revenue-sharing deal.

After the deal the Carphone Warehouse will become the third largest broadband provider in the UK, behind ntl:Telewest and BT.

The other short-listed bidder is thought to have been BSkyB. The deal will be officially concluded in December this year.

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