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T Mobile And Orange Confirm UK Merger Deal

Mon, 09 Nov 2009

Mobile phone giants T-Mobile and Orange have finalised their merger agreement, two months after announcing their intention to enter a 50:50 joint venture.

Respective parent companies, Deutsche Telekom and France Telecom, have signed a final agreement to merge their respective UK operations and create the nation’s largest mobile phone operator with a total customer base of 28.4 million.

Deutsche Telekom's chief financial officer Timotheus Hottges said negotiations for the long-term agreement were conducted fairly by both parties, and added that the joint venture "will set new standards as the number one operator in the UK mobile market".

According to the Orange and T-Mobile, the merger and integration of the two companies should be completed by mid-2010.

Once merged, the new company will have a combined market share of 37 per cent, surpassing the 27 per cent and 25 per cent currently held by O2 and Vodafone respectively.

The joint venture will also generate savings in excess of £3.5 billion and revenues of more than £7.5 billion.

Existing and new customers will benefit from extended network coverage, improved indoor coverage, a wider network of high street shops and improved customer service levels.
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