Around the Net
BT Goes Mobile With GBP12.5bn EE Purchase
- The Drum, Thursday, February 5, 2015 7:19 AM
BT has completed its move for mobile operator EE after agreeing a price of £12.5bn comprising a mixture of cash and shares. Under the terms of the takeover existing EE shareholders Orange and Deutsche Telecom will sell their entire holdings although both will retain influence through a stake in the combined business, set at 4% and 12%, respectively. BT calculates the tie-up will generate an additional £1.6bn per year in sales, particularly in the 4G arena where EE is market leader.
