Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, November 26, 2014

EE owners confirm takeover talks with BT, (NYSE: ORAN)

EE's German and French owners confirmed on Wednesday they were in talks to sell Britain's biggest mobile network operator to BT as part of a wider review of its options.Fixed lone operator BT said on Monday it was in talks with both Telefonica's O2 and a rival operator about buying a mobile business. A source familiar with the situation had said EE, owned by Deutsche Telekom and Orange, was the other party.Analysts believe EE, which holds 33.8 percent of the British mobile market in terms of service revenue and is the clear leader in 4G mobile broadband services, could cost BT around 10 billion pounds ($16 billion), while O2 with a 26.2 percent market share could cost it nearer to 9 billion pounds ($14 billion)."Deutsche Telekom and Orange, the joint shareholders of EE, regularly analyse the development of the market in which EE operates, evaluating various strategic options which have the potential to create value for EE's shareholders and strengthen the market position of EE," they said.

Orange SA, formerly France Telecom SA, is a France-based company that is engaged, principally, in the provision of integrated telecommunications services. Shares of ORAN remained unchanged at $17.15. In the past year, the shares have traded as low as $11.65 and as high as $17.43. On average, 546140 shares of ORAN exchange hands on a given day and today's volume is recorded at 474309.