Will Best Buy bid on the U.K.'s Carphone Warehouse?

Although Best Buy (NYSE: BBY) is the largest consumer electronics retailer in the U.S. these days, the company has grand ambitions in China and other international markets to fuel its quest for growth sustainability. How about growth -- and acquisitions -- in the Europe electronics theater?

Europe's largest wireless handset retailer -- Carphone Warehouse -- may become an acquisition target soon, according to Jimmy Yates with CMC Markets. Potential suitors are said to be Vodafone (one of Europe's largest wireless carriers) and ... Best Buy. Would Best Buy want to buy Europe's largest wireless handset retailer in order to become one of Europe's largest wireless resellers?

Best Buy already owns 3% of Carphone Warehouse, having joined with the company in 2006 for a partnership to launch standalone wireless stores in the U.S. Would Best Buy like to expand that kind of partnership in the more competitive European wireless landscape?

Sure -- wireless is a more saturated market in Europe, but customers never get tired of changing phones or wireless carriers. If Best Buy really sees that kind of profitable future in wireless handset retailing, Carphone Warehouse would make an excellent entry point into the arena.