Mergers and Acquistions News
Categories: Telecoms
September 8th 2009, 16:14PM
The anticipated merger between Orange and T-Mobile in the UK looks set to go ahead after both controlling companies confirmed that they have entered into exclusive negotiations to form a 50:50 joint venture company.
Deutsche Telekom and France Telecom are to create the UK's largest mobile operator in a joint venture will have pro forma revenues of approximately £7.7 billion and a 37 per cent share of the UK market.
By integrating Orange's broadband activities, the combined firm will also be able to offer convergent solutions to its customers in the future.
The combination will also result in expanded network coverage and enhanced quality for 2G and 3G services, as well as a larger network of retail outlets.
"In the second-biggest market in Europe, which is undoubtedly one of the toughest and most competitive, we are giving T-Mobile UK a clear and strong future," commented Timotheus Hottges, chief financial officer of Deutsche Telekom.
Deutsche Telekom recently became the first telecoms provider in Germany to launch an environmental campaign for communication sustainability.
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