Wednesday, March 31, 2010

Deutsche Telekom and France Telecom Complete UK Merger

Deutsche Telekom and France Telecom completed their UK merger transaction, combining T-Mobile UK and Orange into the UK's leading mobile operator. It will have a combined mobile customer base of around 28.4 million, representing approximately 37 percent of UK mobile subscribers. A new name for the venture has not yet been announced, so the existing brands will be kept in place for now.


In November 2009, Deutsche Telekom and France Telecom signed the final agreement to combine their UK operations, T-Mobile and Orange, into a 50:50 joint venture company. The deal was first announced on 8 September 2009.


Tom Alexander, former CEO of Orange UK serves as CEO of the new Joint Venture, and Richard Moat, the former CEO of T-Mobile UK is Chief Financial Officer and Deputy CEO. A Board of Directors has also been formed, on which Tom Alexander and Richard Moat will serve as executive directors. Tim Höttges, CFO of Deutsche Telekom, will lead the board as non-executive chairman for two years. After this time, the leadership will rotate to Gervais Pellissier, Deputy CEO and CFO of France Telecom, for two years.
http://www.telekom.dehttp://www.francetelecom.com

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