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BT is about to buy EE. No, really

BT is about to buy EE. No, really
BTEE coming your way soon?

It's been doing the rounds in the rumour mill and now BT has confirmed that it has entered into exclusive negotiations to purchase mobile network EE for £12.5bn.

If you're an EE customer don't panic just yet, as the potential takeover is still very much in its infancy and there's a long way for BT to go before it can complete any kind of deal.

BT's statement reveals it's in talks with EE's parent companies - Deutsche Telekom and Orange - about a possible acquisition and it holds exclusivity for several weeks. That means Three, who has also been tipped with a possible bid for EE, will have to wait in the wings before it can make any form of formal approach.

The move by BT makes sense as it would see the provider complete its services line up with the mobile network joining its broadband, landline and TV operations.

Thomas Dannenfeldt, Chairman of EE's Board of Directors said: "We firmly believe that convergence is the future of telecommunications in Europe. Customers want fixed-mobile converged services from a single provider.

"The proposed transaction with BT offers the chance to further develop our superbly positioned mobile business engagement in the UK and to take part in the outstanding opportunities of an integrated business model."