Agreement Signed for Orange – T-Mobile Deal
The parent companies of Orange and T-Mobile have recently signed an agreement to finalise the merger between these two subsidiaries in the UK. The announcement of the impending merger was made last September, and this merger will create the country’s largest mobile broadband provider with a 37% market share. Both the companies have agreed to operate as a 50:50 joint venture and are awaiting approval of the regulatory authorities.
Gervais Pellissier, deputy CEO of France Telecom in charge of Group Finance & Information Systems, considers this an important step in not only consolidating their market share but also in improving operations and providing innovative and high quality services to customers. He believes that the end users will benefit from the advanced technologies of both the companies.
Chief Finance Officer of Deutsche Telekom Timotheus Httges emphasises that this merger has come along with an idea of long-term partnership. He does not foresee any problem in the operation of the joint venture, and this is already reflected in the way the merger has been brought about. He considers this joint venture a milestone in the mobile sector and is optimistic about the fact that that this will set new standards in the telecommunications industry.
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