BT has announced finalised plans for its buyout of EE, promising customers a 'seamless service'.
The telcoms giant has agreed 'definitive terms' in its £12.5bn acquisition of EE, the UK's largest mobile network. BT said it will combine the power of fibre broadband with Wi-Fi and advanced mobile capabilities. Also in the industry shake up is Three taking over O2,Sky to offer mobile phone contracts with O2 and Dixons Carphone to launch its own mobile phone network with Three.
BT Chief Executive Gavin Patterson said: "This is a major milestone for BT as it will allow us to accelerate our mobility plans and increase our investment in them. The UK's leading 4G network will now dovetail with the UK's biggest fibre network, helping to create the leading converged communications provider in the UK."
He added that both consumers and businesses will benefit from new products and services.
Although what will happen with the company names is yet to be decided, EE will join BT which has confirmed it will attempt to sell its broadband, home phone and pay-TV services to any EE customers who don't currently take them.
BT also said it expects to: "accelerate the sale of converged fixed-mobile services to BT's existing consumer and business customers and offer new services, using both companies' product portfolios, skills and networks."
There's a long way to go with the deal, though which will be paid as a combination of cash and new BT ordinary shares issued to both Deutsche Telekom and Orange. It is expected to be completed by the end of BT's 2015/16 financial year.
EE Chief Executive Olaf Swantee said: "Joining BT represents an exciting next stage for our company, customers, and people. In the last few years alone, we have built the UK's biggest, fastest and best 4G network, significantly advancing the digital communications infrastructure for people and businesses across Britain."
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