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This article was published on February 5, 2015

    UK telecom giant BT confirms $19bn acquisition of mobile operator EE

    UK telecom giant BT confirms $19bn acquisition of mobile operator EE
    Abhimanyu Ghoshal
    Story by

    Abhimanyu Ghoshal

    Managing Editor

    Abhimanyu is TNW's Managing Editor, and is all about personal devices, Asia's tech ecosystem, as well as the intersection of technology and Abhimanyu is TNW's Managing Editor, and is all about personal devices, Asia's tech ecosystem, as well as the intersection of technology and culture. Hit him up on Twitter, or write in: [email protected].

    BT has confirmed that it is acquiring mobile network EE today for $19 billion (£12.5 billion). The company announced that it was in talks to do so last December.

    BT will make its acquisition through a combination of cash and new BT ordinary shares. EE has 31 million suscribers in the UK, and has the largest 4G customer base of any operator in Europe.

    The move will enable BT to sell its broadband, fixed telephony and pay-TV services to those EE customers who currently don’t subscribe to BT’s offerings. The company also also expects to accelerate the sale of converged fixed-mobile services to its existing consumer and business customers and offer new services.

    BT agrees definitive terms to acquire EE for £12.5bn to create the UK’s leading communications provider [BT Group]