Grocer Wm Morrison Supermarkets , is targeting a greater share of the mother and baby products market after snapping-up the leases of 10 former Best Buy stores from Carphone Warehouse .

The firm said on Thursday it would invest 15 million pounds converting the stores to the brand it acquired last year.

Morrisons said about 700 new jobs will be created across the country, with the first store expected to open before autumn this year.

Last year Best Buy, which has a joint venture with Carphone Warehouse, closed the stores after abandoning plans for a European chain of electricals megastores.

Shares in Morrisons were down 0.5 percent at 294.1 pence at 11:21 a.m.

($1 = 0.6416 British pounds)

(Reporting by James Davey; editing by Paul Sandle)