9 February 2015
Clifford Chance advises Deutsche Telekom on the sale, together with Orange, of mobile operator EE to BT for £12.5 billion in cash and shares
Clifford Chance has advised Deutsche Telekom AG which, along with Orange S.A, has reached an agreement with the British telecommunications operator BT Group plc. on the sale of their UK joint venture EE.
Upon closing of the transaction, Deutsche Telekom will become the largest shareholder in BT with a stake of 12 per cent.
Deutsche Telekom is one of the world's leading integrated telecommunications companies, providing fixed-network, mobile communications, Internet and IPTV products and services for consumers and ICT solutions for business customers and corporate customers globally.
The Clifford Chance team was led by Global Head of TMT Joachim Fleury and M&A Partner Mark Carroll, with M&A Partners Tim Lewis and Spencer Baylin, and TMT Partner André Duminy also advising, along with support from Senior Associates Katherine Moir, Brian Harley and William Chew. Anti-trust partners Jenine Hulsmann in London and Joachim Schütze in Dusseldorf are leading the charge on the merger clearance processes, which are expected to take up to a year to complete.