BT acquires EE for £12.5bn - PC Retail

BT acquires EE for £12.5bn

BT will take on EE’s 24.5m mobile subscribers
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BT has bought mobile service operator EE in a deal worth £12.5 billion.

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

The new deal will see BT cover fixed-line phones, broadband, mobile and TV.

Following the acquisition shareholders including Orange and Deutsche Telekom will now sell 100 per cent of their shares.

Deutsche Telekom and Orange will now hold stakes of 12 per cent and four per cent in BT respectively.

Gavin Patterson, CEO of BT, 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 UK’s leading 4G network will now dovetail with the UK’s biggest fibre network, helping to create the leading converged communications provider in the UK."

EE chief executive Olaf Swantee added: "Joining BT represents an exciting next stage for our company, customers and people. Today’s announcement will ensure the UK remains at the forefront of the mobile revolution, bringing even more innovation and investment in world leading connectivity for our customers.”

This news comes after mobile service operator Three may acquire o2 for £10.25 billion.

The deal would make Three’s Hutchison Whampoa the largest network operator.

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