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Monday, December 15, 2014

Deutsche Telekom CEO says expects deal with BT in Q1, (NYSE: ORAN)

Deutsche Telekom said on Monday it expects to complete negotiations over the sale of its British mobile telephone subsidiary EE to BT in the first quarter of 2015. Negotiations with BT went very well and should be completed in the first quarter, Deutsche Telekom CEO Tim Hoettges told Reuters on the sidelines of an event in the German city of Mannheim."If no significant obstacles arise in the due diligence process, it will pass quickly," Hoettges said.BT said earlier on Monday it had entered into exclusive talks with EE owners Orange and Deutsche Telekom to purchase EE for 12.5 billion pounds ($19.6 billion). ($1 = 0.6395 pounds)

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 fell by 0.69% or $-0.115/share to $16.52. In the past year, the shares have traded as low as $11.80 and as high as $18.05. On average, 605931 shares of ORAN exchange hands on a given day and today's volume is recorded at 452796.