It has been announced that BT has bought mobile operator EE for £12.5 billion. This takeover will cover fixed-line phones, TV, mobile and broadband which will make BT a leader in the 4G market.
The shareholders for EE, Orange and Deutsche Telekom will sell 100% of their shares but as part of the deal Deutsche Telekom will have a seat on the board and hold 12% in the new business. Orange will receive a 4% stake.
In a statement BT said: "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.”
BT shares increased by 2.5% on the London market, making the company top on the FTSE 100 index and all being well, the deal is expected to be all sorted by March 2016.
