EC green-lights UK Orange, T-Mobile merger
March 3, 2010
The European Commission has granted clearance for the proposed merger of the UK businesses of Deutsche Telekom and France Telecom.
The new joint venture company is expected to generate estimated synergies with a value in excess of E4 billion. The new business will have pro forma 2009 revenues of approximately E8.5 billion and EBITDA of E1.55 billion.
With a combined customer base of around 29.5 million the new company will be the number one player in the UK mobile market and it will be in a stronger position to invest in innovative services and to exploit new technologies.
The T-Mobile and Orange UK brands will continue to operate in the UK for at least 18 months after the completion of the transaction.