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BT to raise 1 bln stg via a placing to fund EE deal
February 5, 2015 / 7:09 AM / 3 years ago

BT to raise 1 bln stg via a placing to fund EE deal

LONDON, Feb 5 (Reuters) - BT said on Thursday it had agreed to buy mobile operator EE for 12.5 billion pounds ($19 billion), and would raise 1 billion pounds through a placing of new shares to fund the deal.

The group, the country’s biggest fixed-line telecoms provider, had spent the last few weeks in exclusive talks with the owners of EE, Orange and Deutsche Telekom , about a deal.

BT said on Thursday it would fund the deal through new debt and the placing. Following the transaction, Deutsche will hold a 12 percent stake in BT and Orange will hold a 4 percent stake. ($1 = 0.6583 pounds) (Reporting by Kate Holton, Editing by Paul Sandle)

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