Arab Today, arab today telecoms group bt buys mobile operator ee for £125 bn
Last Updated : GMT 20:47:25
Arab Today, arab today
Arab Today, arab today

Telecoms group BT buys mobile operator EE for £12.5 bn

Arab Today, arab today

Arab Today, arab today Telecoms group BT buys mobile operator EE for £12.5 bn

British telecoms and TV firm
London - AFP

British telecoms and TV firm BT bought mobile operator EE for £12.5 billion on Thursday, creating the nation's leading communications provider in the latest shake-up in the fast-moving sector.
The deal for Britain's biggest mobile phone network EE -- a venture between Orange of France and Deutsche Telekom of Germany -- is worth $18.9 billion or 16.6 billion euros.
The blockbuster move, aimed at slashing costs, boosting investment and offering expanded "quad-play" services, was praised by analysts and sent BT's share price soaring to the top of the London stock market.
"BT has agreed definitive terms to acquire EE for £12.5 billion. 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," it said in a statement.
The cash-and-shares deal, which remains subject to regulatory and shareholder approvals, will be financed by a £1.0-billion shares sale.
Following completion, Deutsche Telekom will hold a 12 percent stake in BT and will be allowed to appoint one member of the BT board. Orange will meanwhile hold a 4.0 percent stake in the company.
BT Group had already announced in December that it was in discussions to purchase EE.
"This is a major milestone for BT as it will allow us to accelerate our mobility plans and increase our investment in them," BT chief executive Gavin Patterson said in the statement.
"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.
"Consumers and businesses will benefit from new products and services as well as from increased investment and innovation."
Patterson added that there would also be "significant operating and capital investment efficiencies" arising from the deal.
In reaction, BT Group's share price surged 4.96 percent to 444 pence in Thursday afternoon deals on London's FTSE 100 index, which was 0.14 percent lower at 6,850.21 points.
The announcement comes amid fast-moving sector consolidation, with BT keen to return to the mobile phone market after a 12-year absence.
- Sector consolidation -
BT, formerly known as British Telecom, is also eager to match other rivals in Britain such as Virgin Media that offer 'quad play' bundles comprising fixed and mobile phone services along with broadband Internet and pay-television.
The move also follows BT's 2013 entry into television, which has seen it go head-to-head with rival pay-TV broadcaster Sky over the screening of live English Premier League football.
Back in 2002, BT demerged its domestic mobile phone division O2, before selling it to Spanish giant Telefonica in 2005 for £17.7 billion.
In a fresh twist last month, Telefonica revealed it was in talks to sell O2 to Hong Kong's Hutchison Whampoa, operator of the Three mobile network in Britain, for £9.25 billion.
"Today’s announcement that BT has agreed definitive terms with EE... signals that, barring a shareholder revolt, this deal will almost certainly happen," said Imran Choudhary, consumer insight director at Kantar Worldpanel ComTech.
"For consumers, in the short term post-merger they could expect to see some competitively priced deals as the new entity looks to retain consumers across mobile and home markets and to grab as much market share as possible, especially with Three/O2 hot on its heels.
"Consumers can also expect to see a greater variety of deals, as quad play and content-based propositions arrive to the market," he added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today telecoms group bt buys mobile operator ee for £125 bn Arab Today, arab today telecoms group bt buys mobile operator ee for £125 bn

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday