BT in Exclusive Talks to Buy EE

BT have entered into exclusive talks to buy EE for £12.5 billion. The period of exclusivity will lasts “several weeks”, according to BT, to ensure enough time to negotiate a satisfactory deal.

Back in November, BT was linked with the purchase of either EE or Telefonica-owned O2. EE is the largest mobile network in the UK, with a 33.8% market share, according to Citigroup. As part of the proposed deal, EE’s owners, Deutsche Telecom and Orange, would take a 12% and 4% stake in BT, respectively. With its 12% stake, Deutsche Telecom would be entitled to appoint a member to BT’s board. BT issued a statement regarding the potential purchase, saying, “The proposed acquisition would enable BT to accelerate its existing mobility strategy.”

Source: BBC