Mergers and Acquistions News
Categories: Telecoms
November 10th 2009, 16:41PM
Deutsche Telekom and France Telecom have signed the final merger agreement under which they will combine their UK operations - T-Mobile and Orange respectively - into a 50:50 joint venture company.
Completion of the deal is dependent upon regulatory approval, which is expected to occur within the first half of 2010.
"I am very pleased to say that the spirit of this partnership is reflected in the way we conducted and concluded our talks," commented Timotheus Hoettges, chief financial officer of Deutsche Telekom.
"Our joint venture, which has now passed a major milestone, will set new standards in the UK mobile sector."
Following the merger, which was first announced in September, the joint venture company is expected to become the UK's second-largest mobile operator.
The news follows a strategic pan-European mobile partnership between Orange and Google signed last month, which is hoped to provide customers with mobile search and geo-location services through their mobile phones.
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