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BT wins approval for EE deal

Competition regulators have approved BT's transformational acquisition of EE.
BT wins approval for EE deal

Investors in BT (BT.A) can relax and enjoy their weekend. The Competition and Markets Authority (CMA) has approved the telecoms giant's proposed £12.5bn takeover of EE, the UK's largest mobile provider. The deal will add more than 25m mobile customers to the group and enable it to offer lucrative 'quad-play' bundles of broadband, TV and both fixed-line and mobile telephony.

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Management expects the combined group to become a "digital champion" in the UK with the resources to invest and innovate in a fiercely competitive market. Competition regulators ruled that as BT and EE operate in largely separate markets, a tie-up wouldn't result in a substantial lessening of competition or significantly harm the interests of consumers. As part of the transaction, EE-owners Deutsche Telekom and Orange will receive stakes of 12 per cent and 4 per cent in the combined business. BT's directors expect the deal to close on 29 January, ahead of third-quarter results on 1 February.

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