BT has completed its £12.5 billion acquisition of EE, creating the biggest telecoms provider in the UK.
In a filing to the stock market, BT confirmed it has transferred shares over to Deutsche Telekom.
Both brands will be left alone in the short term, but there’s obvious potential to combine their respective proficiencies — EE in mobile, BT in broadband and TV.
In return for their stakes in the mobile operator, Deutsche Telekom and Orange received £3.46 billion in cash and holdings equating to 12 per cent and 4 per cent respectively of BT’s share capital.
The acquisition was given final approval by the Competitions and Markets Authority earlier this month and with the acquisition complete, BT has now became the UK’s biggest mobile provider with 26 million customers.
