Orange-Deutsche Telekom reach an agreement with BT to sell all their shares in EE for €16.7bn

The German telecom group Deutsche Telekom and the French telecom group Orange announced an agreement with their British counterpart, the BT Group, to sell all of their shares in the British operator EE (Everything Everywhere), of which they were joint shareholders, for £12.5bn (€16.7bn), on 05/02/2015.

Orange will receive £3.4bn (€ 4.6bn) in cash, as well as a 4% share in the new organisation of BT/EE. The agreement dictates that Orange cannot sell its shares for at least 12 months. Deutsche Telekom will receive a 12% share in the new entity. Subject to approval of the shareholders of BT, the deal should be finalised in March 2015.

• Orange and Deutsche Telekom entered into exclusive negotiations with BT Group on 15/12/2014.