The new talks will last several weeks, giving BT time to complete due diligence and for a definitive agreement between the companies. BT wants to acquire EE predominantly for its 4G network.
While the terms aren’t fixed yet, BT says it’s looking to purchase EE for £12.5 billion on a debt/cash free basis. EE’s joint owners, Deutsche Telekom and Orange, would each gain stakes in BT. Deutsche Telekom would get 12 percent with Orange holding 4 percent.