DT and FT sign final binding UK merger agreement

6 Nov 2009

Deutsche Telekom (DT) and France Telecom have signed a final binding agreement to combine their respective British subsidiaries in a joint venture, a transaction which was first announced in early September. ‘Deutsche Telekom and France Telecom have committed themselves to a long-term partnership with this joint venture contract,’ DT’s finance chief Timotheus Hoettges said in a statement. The deal remains conditional on approval from the relevant authorities, as well as DT’s supervisory board and the board of directors of DT. The two companies say they will maintain the existing brands – T-Mobile and Orange – for the next 18 months and then discuss with shareholders as to the next move.

United Kingdom, Deutsche Telekom (DT), EE, Orange Group, T-Mobile UK