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Author Topic: BT to buy mobile firm EE for 12.5bn  (Read 566 times)

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Offline Jay9

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BT to buy mobile firm EE for 12.5bn
« on: 05 February 2015, 13:07:36 »

Telecoms group BT has bought the mobile operator EE for 12.5bn.

The takeover creates a communications giant covering fixed-line phones, broadband, mobile and TV. Existing EE shareholders Orange and Deutsche Telekom will sell 100% of their shares.

Deutsche Telekom will hold 12% in the new combined business and have a seat on the board.

Orange will receive a 4% stake, as well as about 3.4bn in cash.

The deal combines BT's 10 million retail customers and EE' 24.5 million direct mobile subscribers.

BT's shares rose almost 5% to their highest level since 2001, the year the company withdrew from mobile operations by selling O2.

BT says it plans to raise 1bn through a placing of new shares to fund the deal.

It said in a statement: "The combination of EE and BT will provide customers with innovative, seamless services that combine the power of fibre broadband with wi-fi and advanced mobile capabilities."


Offline thar

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Re: BT to buy mobile firm EE for 12.5bn
« Reply #1 on: 05 February 2015, 18:28:09 »
Nooo! Hate EE with a passion. Hate them even more now! >:(

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