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General

BT plans share, bond issues to fund EE takeover - report

Thursday 18 December 2014 | 09:36 CET | News
BT is preparing a financing package including around GBP 3 billion of bonds and GBP 2 billion of shares to help fund its GBP 12.5 billion planned takeover of mobile operator EE, the Telegraph writes, citing sources. The share placing will help keep BT's debt at a manageable level as it faces large costs from an anticipated rise in pension fund top-up payments and an increase in Premier League football rights next year. If the takeover goes as planned, it will increase BT's debt to over GBP 12 billion from GBP 7.1 billion at the end of September. Ratings agency Moody's said that even if BT

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Categories: General
Companies: BT / EE
Countries: United Kingdom
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