Following a day of hectic rumours, Deutsche Telekom and France Telecom have confirmed that they ARE planning to merge T-Mobile UK and Orange UK.
The new operator will have a combined mobile customer base of around 28.4 million, accounting for 37% of UK mobile users.
The merged entity will be a 50:50 joint venture between the two parent companies, who are promising expanded network coverage, a larger network of own-branded shops, and more investment in "innovative new services".
However, they're also promising more than £3.5 billion of "synergies" across network and IT, distribution and marketing, and other cost savings. What that means in terms of job losses remains to be seen.
Orange UK CEO Tom Alexander will be CEO of the new operator, while T-Mobile UK CEO Richard Moat will take up a role as COO.
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