Best Buy Co., will open its first stores in Europe by investing $2.2 billion in a joint venture with Carphone Warehouse Group Plc. The 50-50 venture will include Carphone Warehouse's 2,400 retail stores in nine European countries. The assets will also include London-based Carphone Warehouse's share of an existing venture with Best Buy.

Best Buy will open stores under its brand name across Europe, beginning next year.