Telecoms group BT says in talks to buy EE for 12.5 bn pounds

BT Group, the British telecoms and TV company, said today it was in exclusive talks to purchase mobile operator EE for 12.5 billion pounds.
EE is a British mobile phone brand operated by French company Orange and Deutsche Telekom of Germany.
"BT Group plc announces that... It has entered into an exclusivity agreement with Deutsche Telekom and Orange in relation to BT's possible acquisition of all of their UK mobile business, EE," said a statement that gave "a purchase price of 12.5 billion pounds".
A deal would lead to Deutsche Telekom holding a 12-percent stake in BT, while being allowed to appoint one member of the BT board. Orange would hold a 4.0-percent stake in BT, the statement said.

"The period of exclusivity will last several weeks allowing BT to complete its due diligence and for negotiations on a definitive agreement to be concluded," it added.
Back in 2002, BT demerged its domestic mobile phone division O2, before selling it to Spanish giant Telefonica in 2005 for 17.7 billion pounds.
BT is looking to get back into the mobile phone market amid industry consolidation -- and following its recent entry into television that has seen it go head-to-head with British rival BSkyB over the screening of live English Premier League football.