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

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."

05 Feb 15 Espirito Santo Execution Noble Buy 437.70 535.00 535.00 Reiterates

Well done here skinny.

I was hoping they might have had a deal with ITV to use they vast media library, maybe after the EE buy out .

Cheers Chris - unfortunately, I sold about 60% when they hit 420 for the second time - but I was holding from under a quid so can't complain.

The father of my son's girlfriend used to work for BT.

Chicory Tip?

Could'a been Lonnie Donegan.

Yum yum still got mine from way back when they were about 140p.

Them were the days :)

Late comer then! :-)

Jefferies International Buy 443.00 443.00 470.00 515.00 Retains

BT Sport to show 42 live top-flight Saturday and Midweek matches for 2016/17 to 2018/19 seasons

Matches to be added to line-up featuring exclusive live action from the UEFA Champions League, UEFA Europa League, FA Cup and top-flight European leagues

BT is to show even more live top-flight football matches on its BT Sport TV channels after winning exclusive live rights to 42 Premier League matches in each of the 2016/17 to 2018/19 seasons. This is an increase of four matches per season on the current 38.
The new rights will see BT Sport show a live Saturday evening game every Premier League weekend from 2016/17 for three seasons. This will allow BT to build on its current Saturday programming and appeal to an even larger audience, having secured the prime evening TV viewing slot.
These new Premier League games from 2016/17 will be added to the 350 exclusive live matches from the UEFA Champions League and Europa League that BT Sport will be showing from both tournaments starting this summer. The channel also has live rights to the FA Cup for the next three years.

Proposed placing of new ordinary shares

Proposed placing of new ordinary shares to fund part of the cash consideration payable in connection with the acquisition of EE Limited ("EE")

BT today announces its intention to raise approximately £1.0bn through an underwritten placing of new ordinary shares of five pence each in the Company (the "Placing Shares") with institutional investors (the "Placing").

The Placing is being conducted through an underwritten accelerated bookbuilding process (the "Bookbuild") which will be launched immediately following this announcement. J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is acting as Sole Global Co-ordinator, Joint Bookrunner and Joint Corporate Broker in connection with the Placing. Merrill Lynch International ("BofA Merrill Lynch") is acting as Joint Bookrunner and Joint Corporate Broker in connection with the Placing and Goldman Sachs International ("Goldman Sachs") is acting as Joint Bookrunner in connection with the Placing.

Final Results

Key points for the fourth quarter:
· Underlying revenue1 excluding transit down 1.3%
· Underlying operating costs2 excluding transit down 6%
· EBITDA3 grew 7%, partly helped by the settlement of ladder pricing arrangements
· Our best ever quarter for Openreach fibre broadband net connections of 455,000, up 31%
· Agreed definitive terms for proposed acquisition of mobile operator EE
· Secured content for FA Premier League to 2018/19 and Aviva Premiership Rugby to 2020/21
· Launched great value mobile offerings into the consumer market
· 2014 triennial pension funding valuation agreed in January


Key points for the year:
· Results in line with or ahead of our outlook for the year
· Underlying revenue1 excluding transit down 0.4%
· Underlying operating costs2 excluding transit down 2%
· EBITDA3 of £6,271m, up 3%
· Earnings per share3 up 12%
· Normalised free cash flow4 of £2,830m, up 16%
· Net debt at £5,119m down £1,909m including the benefit of our £1.0bn share placing
· Proposed final dividend of 8.5p, up 13%, giving a full year dividend of 12.4p, up 14%

more..

Worth a read - BT Group

Trying 470 again - 12 month high is 472.85.

BT aims to shut down traditional phone network to help it battle US tech giants

StockMarketWire.com
BT Group's adjusted pre-tax profits rose by 9% to £694m in the first quarter to the end of June. On a reported basis, pre-tax profits were up 16% at £632m.

Revenues were 2% down at £4,278m but EBITDA increased by 1% to £1,449m and adjusted earnings per share rose by 3% to 6.7p.

Chief executive Gavin Patterson said:"This is an exciting time at BT. We continue to invest heavily in our superfast fibre broadband network. It now reaches around 80% of all UK premises and we will work with government to help take fibre broadband to 95% of the country by the end of 2017. Our technical trials of ultrafast broadband using G.fast are progressing well; we're on target to start large-scale customer trials this summer.

Our mobile plans have got off to a good start with more than 100,000 consumer mobile customers signed up in the first three months. We're also looking forward to completing our acquisition of EE, which will allow us to create a true UK digital champion, providing customers with greater choice and value and helping to deliver the UK's connected future.

We're launching BT Sport Europe in the next few days, the new home of UEFA Champions League football, which is free for our BT TV customers. We are also leading the way on Ultra HD TV. Our BT Sport Ultra HD channel will be the first live sports channel in Europe offering picture quality four times that of normal high definition.

We have also invested further in improving customer service and Openreach is running ahead of all 60 minimum service levels set by Ofcom for this year. And we are engaging with Ofcom as part of its Strategic Review of Digital Communications which offers scope for deregulation and the potential to create a more level playing field in pay-TV.

The investments we are making in our business and customer service are building a strong platform for growth. And our financial results show we're on track to achieve our outlook for the full year."

StockMarketWire.com
BT chief executive Gavin Patterson has unveiled the company's ambition to deliver Britain's digital future, cementing the nation's future prosperity as the G20's leading digital economy.

According to Ofcom, 90% of UK premises can already access fibre broadband, putting the UK top of the EU's largest countries, according to Ofcom.

Speaking at BT's Delivering Britain's Digital Future conference in London, Patterson announced pledges designed to go further and:

· tackle slow speeds in hard-to-reach parts of the country;

· achieve a step-change in speeds overall, with ultrafast rollout starting next year;

· improve customer service, through a number of commitments unveiled by Openreach.

Patterson said: "For the past five years, the UK has been the largest digital economy in the G20, by percentage of GDP. We think the UK has an even brighter future ahead if we make the right decisions today. We want to forge an ultrafast future for Britain and stand ready to help government deliver the broadband speeds necessary for every property to enjoy modern day internet services, such as high definition TV streaming and cloud computing. To achieve this, we need a collaborative effort across industry and government."