British broadband provider Carphone Warehouse de-merged on Monday, splitting into two separately listed companies.

Shares in broadband provider TalkTalk and retailer Carphone Warehouse started trading on the London Stock Exchange at 127p-a-share and 135p-a-share respectively.

Carphone Warehouse will comprise of old group’s mobile phone retail offering and the joint venture with the consumer electronics retailer Best Buy Co.

UBS analysts credited 60 per cent of the value of the old group to TalkTalk and 40 per cent to new Carphone.

According to the UBS analysts, the TalkTalk business was worth 60 per cent of the old group.

Carphone has plans to open a number of electronics stores across Europe staring this year.