Britain's BT Group in exclusive talks to buy mobile operator EE, re-enter cell-phone market
{{#rendered}} {{/rendered}}BT Group PLC says it is in exclusive talks to buy mobile phone operator EE from Germany's Deutsche Telekom and France's Orange for 12.5 billion pounds ($20 billion) in cash and shares.
BT, Britain's biggest home telephone and Internet provider, announced last month that it was planning to re-enter the mobile market, which it left in 2001.
EE has 24.5 million customers in Britain.
{{#rendered}} {{/rendered}}BT said Monday that the period of exclusivity "will last several weeks allowing BT to complete its due diligence and for negotiations on a definitive agreement to be concluded."
It foresees a deal that would leave Deutsche Telekom with a 12 percent stake in BT and Orange a 4 percent stake.
A deal would require the approval of BT shareholders.