BT signs £12.5bn deal to acquire EE
After several negotiation talks, BT has finally secured the deal with EE to acquire it for £12.5bn. the Competition and Markets Authority will have to approve the deal and the process can take anywhere between eight and 32 weeks.
Vice president and senior Credit officer for BT, Ivan Palacios said that the agency ratings of BT has been affirmed with a positive outlook that reflects the prudent financing of the acquisition of EE and it has also strengthened the business risk profile of the combined entity.
Several others are also voicing their opinion about the deal. The mobile plans of BT are trying to combine broadband network and several millions of Wi-Fi hotspots with 4G in order to offer high-speed internet access inside and outside home. The company claimed that there will not be any distinction between the fixed-line and mobile telecoms.
The takeover talks were revealed as early as November 2014 and it triggered a wave of deals in the telecoms industry. BT also considered buying O2 and it was sold to Hutchison Whampoa which was later merged with Three. Sky has announced plans to offer mobile services through a wholesale deal with O2.
Deutsche Telekom said that being the largest shareholder in BT, it was “laying the foundations for our two companies to be able to work together in the future”.