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General

BT agrees to buy EE for GBP 12.5 billion

Thursday 5 February 2015 | 08:52 CET | News
Deutsche Telekom and Orange have reached an agreement to sell their UK joint venture EE to BT for GBP 12.5 billion. BT expects annual cost and capex synergies of GBP 360 mllion within four years of closing the takeover, as the two operators combine their sales, marketing and administration and networs. As it takes advantage of cross- and up-selling opportunities, the revenue synergies are expected to reach a total GBP 1.6 billion. Adjusted for the value of the synergies, the takeover price values EE at 6.0 times its EBITDA in 2014. Deutsche Telekom will become the largest shareholder in BT

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Categories: General
Companies: BT / Deutsche Telekom / EE / Orange
Countries: United Kingdom
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