BT has announced that it has entered into exclusive negotiations to acquire EE. It confirmed last month that it had begun talks with the mobile network with discussions also taking place with O2.
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.
➤ BT ENTERS EXCLUSIVE NEGOTIATIONS TO ACQUIRE EE [BT]