Orange and Deutsche Telekom to sell their British activities to the British BT Group

by bold-lichterman

The sale of Everything Everywhere (EE) by Orange and Deutsche Telekom is taking shape. The French telecommunications operator announced on Monday evening that it had entered into exclusive negotiations with the British operator BT Group. The 3 groups have already agreed on a sale price: 12.5 billion poundss (or 15.75 billion euros).

“Payment would be made by a mix of cash and new BT shares. While DT would take a 12% stake in BT, Orange would take a 4% stake in BT and receive a larger proportion in cash, in order to ensure an equal distribution of the net proceeds from the sale of EE between the two shareholders ” says Orange.

Created four years ago to bring together the British activities of the French operator and Deutsche Telecom, Everything Everywhere is an equal subsidiary between the two European entities.