BT Group PLC CMA provisionally approves EE acquisition

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RNS Number : 6702D

BT Group PLC

28 October 2015

October 28, 2015

BT WELCOMES CMA'S PROVISIONAL APPROVAL OF EE ACQUISITION

BT today welcomed the Competition and Markets Authority's (CMA) decision to provisionally approve its GBP12.5bn acquisition of EE, unconditionally without remedies. The company will continue to engage with the Authority through the remainder of its merger enquiry.

The CMA said today it has provisionally decided that the acquisition "is not expected to result in a substantial lessening of competition (SLC) in any market in the UK". These include the supply of retail mobile, wholesale mobile, mobile backhaul, wholesale broadband and retail fixed broadband services.

BT Chief Executive Gavin Patterson said: "We're pleased that the CMA has provisionally approved BT's acquisition of EE. The combined BT and EE will be good for the UK, providing investment and ensuring consumers and businesses can benefit from further innovation in a highly competitive market".

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For further information

Enquiries about this news release should be made to the BT Group Newsroom on its 24-hour number: 020 7356 5369. From outside the UK dial + 44 20 7356 5369. All news releases can be accessed at our web site: http://www.btplc.com/News

About BT

BT's purpose is to use the power of communications to make a better world. It is one of the world's leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband, TV and internet products and services; and converged fixed/mobile products and services. BT consists principally of five customer-facing lines of business: BT Global Services, BT Business, BT Consumer, BT Wholesale and Openreach.

For the year ended 31 March 2015, BT Group's reported revenue was GBP17,979m with reported profit before taxation of GBP2,645m.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.

For more information, visit www.btplc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 28, 2015 03:26 ET (07:26 GMT)

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