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UK: BT shareholders approve £12.5 billion EE takeover

By  |  May 3, 2015

BT’s owners have given their official backing to the firm’s intended £12.5 billion takeover of EE.

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    Some 99.73 per cent of shareholders approved the transaction, and in the process, granted BT’s board of directors the authority to allot shares.

    This move was widely expected ahead of the firm’s general meeting.Shareholder approval for BT’s takeover of EE may have been a relative formality, but getting the deal past the competition authorities may be less straightforward.

    With a number of BT’s rivals opposing the move, the Competition and Markets Authority is carrying out a full review.

    Earlier this week, EE Chief Executive Olaf Swantee claimed it could take the whole of 2015 for the regulator to make a decision on the takeover.

     

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