EE has been acquired by fellow telecom giant BT in a deal worth 12.5bn.
As part of the agreement both Orange and Deutsche Telekom will sell their stake in the company, although the pair will maintain a 12 per cent and four per cent stake in the new business respectively.
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 exec Gavin Patterson said. 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. The enlarged BT will offer significant opportunities for employees as we lead the creation of a world-class digital infrastructure for Britain.”
EE boss Olaf Swantee added: Joining BT represents an exciting next stage for our company, customers, and people. In the last few years alone, we have built the UK's biggest, fastest and best 4G network, significantly advancing the digital communications infrastructure for people and businesses across Britain. 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.”