By Marisa Torrieri
Mobile operators T-Mobile UK and Orange UK -- subsidiaries of Deutsche Telekom (News
) and France Telecom, respectively – have been cleared
by the European Union to start implementing their joint venture.
The EU found that “commitments will have no negative impact on customers or overall business synergies,” according to Orange.
The new company will become the U.K. mobile market leader, serving 29.5 million customers. The transaction is expected to close in Spring.
“This is excellent news, for our customers, for our highly committed teams in the U.K. and for our shareholders,” said Tim Höttges, CFO of Deutsche Telekom. “Now the way is clear for pooling our resources to create an outstanding high-speed mobile broadband network in one of the most competitive markets in Europe.”
Gervais Pellissier, deputy CEO and CFO of France Telecom (News
), said FT is delighted to receive the EU clearance.
“This clearance will allow us to create a strong operator and to offer high-quality network and services to our customers,” Pellissier said. “By drawing on the resources of Deutsche Telekom and France Telecom, and on an experienced management and staff in the United Kingdom, we are confident that we will leverage on identified synergies and generate significant value for our shareholders.”
Marisa Torrieri is a TMCnet Web editor, covering IP hardware and mobility, including IP phones, smartphones, fixed-mobile convergence and satellite technology. She also compiles and regularly contributes to TMCnet's gadgets and satellite e-Newsletters. To read more of Marisa's articles, please visit her columnist page.
Edited by Marisa Torrieri