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BT to acquire mobile firm EE for 12.5 bln pounds

Xinhua, February 5, 2015 Adjust font size:

British telecom company BT Group on Thursday announced it had agreed definitive terms to acquire mobile firm EE for 12.5 billion pounds (19 billion U.S. dollars).

EE's existing shareholders Orange and Deutsche Telekom will sell 100 percent of their shares to BT.

EE is one of the leading mobile network operators in Britain with 31 million customers of which 24.5 million are direct mobile customers and 834,000 are fixed broadband customers. EE also has the largest 4G customers base of any operator in Europe, said BT.

The two companies' combination will provide customers with innovative, seamless services that combine the power of fiber broadband with wi-fi and advanced mobile capacities, said the operator.

"By combining the UK's most advanced 4G network and most extensive superfast broadband network, BT will have greater scope for future investment and product innovation," it added.

BT expects to generate revenue synergies of an extra 1.6 billion pounds a year in sales by providing a full range of communications services to the combined customer base. (1 pound = 1.52 U.S. dollars) Endit