If Bt has bought back 2million 5 thousand shares to day. How come it shows on trades as a sell?

Talk Talk?

Most lunchtime flyers seem to think the 'other' option is EE.

Goldman Sachs Conviction Buy 394.10 394.10 600.00 600.00 Reiterates

Citigroup Buy 394.10 394.10 450.00 450.00 Reiterates

Deutsche Bank Hold 394.10 394.10 410.00 410.00 Reiterates

Jefferies International Buy 388.50 470.00 470.00 Retains

Espirito Santo Execution Noble Buy 400.10 480.00 480.00 Reiterates

Toying with £4 again.

EE owners confirm takeover talks with BT

(Reuters) - EE's German and French owners confirmed on Wednesday they were in talks to sell Britain's biggest mobile network operator to BT (BT.L) as part of a wider review of its options.

I wonder how many T-Mobile, Orange & EE customers would be happy with that? I know one who certainly wouldn't!

BT opts for EE over O2 for 12.5 billion-pound UK mobile deal

What will Vodafone do now ?

BT plans £2bn rights issue to fund EE takeover

See posts 486,487 & 500.

Chart of the week: A perfect tramline trade

Societe Generale Buy 409.10 400.20 - 480.00 Upgrades

Have held these in my ISA from 160p, and intending to hold for much longer yet.

New 14 year high @423.60p

Li Ka-shing's Hutchison to buy Telefonica UK unit for $15.4 billion

(Reuters) - Li Ka-shing's Hutchison Whampoa Ltd (0013.HK) has agreed to buy Telefonica's (TEF.MC) British mobile unit O2 for up to 10.25 billion pounds ($15.4 billion), as Asia's richest man makes his boldest bet yet to revamp his European telecoms business.

Looks a done deal - Hutchison to buy Telefonica UK unit for 10.25 billion pounds

(Reuters) - Li Ka-shing's Hutchison Whampoa Ltd has agreed to buy Telefonica's British mobile unit O2 for up to 10.25 billion pounds, hastening the consolidation of Britain's telecoms industry.

RESULTS FOR THE THIRD QUARTER AND NINE MONTHS TO 31 DECEMBER 2014


· Underlying revenue2 excluding transit down 1%
· Underlying operating costs4 excluding transit down 3% reflecting the benefit of our cost transformation activities
· EBITDA1 up 2% and earnings per share1 up 10%
· Normalised free cash flow3 of £908m, up 64%
· Outlook reaffirmed

BT ANNOUNCES RESULTS OF PENSION FUNDING VALUATION


BT agrees pension plan, unveils fibre network upgrade

Espirito Santo Execution Noble Buy 419.90 - 535.00 Reiterates

Jefferies International Buy 420.65 470.00 470.00 Retains

That'll do nicely :-)

BT finalises deal to buy EE - source

Wed Feb 4, 2015 7:48pm GMT

(Reuters) - BT has reached agreement with Orange and Deutsche Telekom ‎ to buy their UK mobile network operator EE and a deal could be announced as early as Thursday morning, a person familiar with the situation said.

BT, Britain's biggest fixed-line telecoms provider, has been in exclusive talks since December to buy the country's biggest mobile network operator for 12.5 billion pounds in preference to buying Telefonica's O2.

BT declined to comment.


Eyes down for an RNS?

BT agrees definitive terms to acquire EE

Transaction highlights

· BT announces that it has agreed definitive terms to acquire EE for £12.5bn

· EE is the leading mobile network operator in the UK with 31m customers of which 24.5m are direct mobile customers1 and 834,000 are fixed broadband customers. It has the largest 4G customer base of any operator in Europe

· The consideration for EE will be payable as a combination of cash and new BT ordinary shares issued to both Deutsche Telekom and Orange

· The cash consideration will be financed by a combination of new debt financing and approximately £1bn from the placing of new BT shares. The Equity Placing will be launched in due course

· Following the Transaction and Equity Placing, Deutsche Telekom will hold a 12% stake in BT and will be entitled to appoint one non-executive member of the BT Board of Directors. Orange will hold a 4% stake in BT

· By combining the UK's most advanced 4G network and most extensive superfast broadband network, BT will have greater scope for future investment and product innovation

· BT expects to achieve combined operating cost and capex synergies of around £360m p.a. in the fourth full year post Completion. This is equivalent to a net present value of around £3.5bn before integration costs or around £3.0bn after integration costs

· BT expects to generate revenue synergies by providing a full range of communications services to the combined customer base. This includes BT selling its broadband, fixed telephony and pay-TV services to those EE customers who do not currently take a service from BT. BT also expects to accelerate the sale of converged fixed-mobile services to BT's existing consumer and business customers and offer new services, using both companies' product portfolios, skills and networks. BT expects to generate revenue synergies with a total net present value of approximately £1.6bn

· The Transaction values EE at a multiple of 6.0x 2014 EBITDA and 9.6x 2014 OpFCF, adjusted for the net present value of the operating cost and capex synergies2

· The Transaction is expected to be accretive to FCF per share in the first full year post Completion3. As a result of EE's high depreciation charge, reflecting historical network investment, the Transaction is expected to be accretive to Adjusted EPS one year later3

· The cash return on investment of the Transaction is expected to comfortably exceed BT'scost of capital in the third full year post Completion

· The Transaction is subject to approval by the shareholders of BT and merger clearance, in particular from the UK Competition and Markets Authority. It is expected to complete before the end of BT's 2015/16 financial year



BT Chief Executive Gavin Patterson said:

"This is a major milestone for BT as it will allow us to accelerate our mobility plans and increaseour investment in them. The UK's leading 4G network will now dovetail with the UK's biggest fibre network, helping to create the leading converged communications provider in the UK. Consumers and businesses will benefit from new products and servicesas well as from increased investment and innovation. The deal provides an attractive opportunity for BT to generate considerable value for shareholders, with significant operating and capital investment efficiencies supported by our tried and tested cost transformation activities. The enlarged BT will offer significant opportunities for employees as we lead the creation of a world-class digital infrastructure for Britain."

EE Chief Executive Olaf Swantee said:

"Joining BT represents an exciting next stage for our company, customers, and people. In the last few years alone, we have built the UK's biggest, fastest and best 4G network, significantly advancing the digital communications infrastructure for people and businesses across Britain. Today's announcement will ensure the UK remains at the forefront of the mobile revolution, bringing even more innovation and investment in world leading connectivity for our customers."

Deutsche Telekom Chief Executive Tim Höttges said:

"The transaction is much more than just the creation ofthe leading integrated fixed and mobile network operator in Europe's second largest economy. We will be the largest individual shareholder in BT and are laying the foundations for our two companies to be able to work together in the future. This is another example of the consistent and successful execution of our portfolio optimisation strategy."

Orange Chief Executive Stéphane Richard said:

"This is a landmark transaction for Orange and the next natural step in the evolution of BT and EE. We are confident the combined company will go on to provide new and exciting services to its customers as the demand for data and connected services continues to grow."