British Telecomunications Juggernaut BT acquires EE

BT acquires EE

BT acquires EE

BT agreed on Thursday to buy EE, the British mobile telephone provider, for £ 12.5 Billion, or about $19 Billion in cash and stock deal.

 Under the terms of deal, Deutsche Telekom would hold a 12 percent stake of EE and Orange will hold 4 percent of this company after completing the takeover.

 BT announced it would pay the remaining part of deal in cash and issuing about 1.5 Billion in new shares to help finance the takeover.

 “This is a major milestone for BT,” Gavin Patterson, the company’s chief executive, said in a statement. “The U.K.’s leading 4G network will now dovetail with the U.K.’s biggest fiber network.”

 The deal is BT return to the mobile market, after when Telefónica of Spain bought $ 28 billion after BT spin off the unit in 2005 and transform to Telefónica Europe.

 BT is expected to complete  this deal, which is subject to the approval of British regulators, before the first quarter of 2016.

 BT lead financial advisor is Goldman Sachs.

 Mr. Stakebay says :

 This deal add 31 million British customers of EE . BT saw opprtunity to offer quad-play packages includes broadband, cellphone, fixed-line and pay-TV services in one bundle from reasons increasing intrest of customers.  This deal is one of the lastest takovers of European telecom sector consolidation.

 

CEO of BT Group………………Gavin Patterson…………2013-present……….. £ 4 250 000 (2014)

CEO of EE………………………..Olaf Swantee……………2011-present

 

 

BT Group

EE

Revenue

£ 18.287 Billion (2014)

-

Operating income

 £ 3.421 Billion (2014)

-

Profit

 £ 2.214 Billion (2014)

-

Total assets

£ 5.706 Billion (2014)

-

Total Equity

£ – 592 Million (2014)

-

Employees

173 000 (2014)

-

 

 

 

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