BT has bought EE for £12.5 billion
BT has agreed to buy Britain’s largest mobile operator EE in a cash and shares deal worth £12.5 billion.
The deal, which BT said would create the UK’s leading communications provider, will be partly financed by a £1 billion share issue.
Following the transaction, EE’s current owners Deutsche Telekom and Orange will hold stakes of 12% and 4% in BT. Deutsche will be entitled to a seat on the board.
BT chief executive Gavin Patterson said: ‘This is a major milestone for BT as it will allow us to accelerate our mobility plans and increase our investment in them.’
The group had announced in December that it was in talks to buy EE.
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BT said the transaction was subject to approval from shareholders and clearance from the Competition and Markets Authority. It is expected…
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