The first month of 2016 has come to an end with a total of 261 completed deals involving UK companies. After receiving approval, BT Group PLC finally completed the £12.5 billion acquisition of EE Ltd. The deal will see Deutsche Telekom and Orange, co-owners of EE, become the largest shareholder in BT with a 12 per cent stake.
The deal reaffirms the stronghold BT already had in the communications industry with their phone lines, broadband and TV services. The deal is expected to see the company refresh their structure, with the introduction a ‘quad play’ package scheme, whereby BT will offer all its available services, including mobile, for a set price plan.
Other of January’s notable deals came in the form of BRS Ventures and Holdings Ltd’s acquisition of foreign currency exchange provider, Travelex Holdings Ltd, for £900 million.