BT seals �12.5bn deal to buy EE
BT said it would raise £1bn through a placing of new shares to fund the deal, after weeks of exclusive talks with the owners of EE, Orange and Deutsche Telekom. “This is a very exciting time and a new chapter for BT,” said Gavin Patterson, chief executive of BT, and hailed the deal as a “major milestone”. Deutsche Telekom will hold 12 per cent in the new merged business and will have a seat on the board, while Orange will get a 4 per cent stake, as well as around £3.4bn in cash. Following the takeover, BT will be able to sell its fixed telephone, broadband and TV services to EE's customers and accelerate its plans to offer interconnectivity between fixed Wi-Fi and high-speed fibre networks with mobile 4G technology. "The UK's leading 4G network will now dovetail with the UK's biggest fibre…