Deutsche Telekom and France Telecom announce completion of UK merger
Posted 1 April 2010 / Corporate, Group
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Further to announcements of 8th September 2009, and to the obtaining of all necessary approvals, Deutsche Telekom and France Telecom today announced the successful completion of the UK merger transaction and the formation of the new Joint Venture. The JV will be accounted for using the equity method as of April 2010 for both Deutsche Telekom and France Telecom.
Tom Alexander, former CEO of Orange UK, is the Chief Executive of the new Joint Venture, and Richard Moat, the former CEO of T-Mobile UK, is Chief Financial Officer and Deputy CEO. A Board of Directors has also been formed, on which Tom Alexander and Richard Moat will serve as executive directors. Tim Höttges, CFO of Deutsche Telekom, will lead the board as non-executive chairman for two years. After this time, the leadership will rotate to Gervais Pellissier, Deputy CEO and CFO of France Telecom, for two years.
Also joining the six-person Board as non-executive directors are Philipp Humm, Chief Regional Officer Europe for Deutsche Telekom and Olaf Swantee, Executive Vice President Europe at France Telecom.
About Everything Everywhere Limited
Everything Everywhere Limited is the company
running two of the UK’s most famous brands – T-Mobile (UK) and Orange (UK).
Owned jointly by Deutsche Telekom and France Telecom respectively, Everything
Everywhere Limited is the UK’s biggest communications company, with a combined
customer base of over 30 million people and 700 retail stores across the
country. Everything Everywhere Limited plans to transform the industry by
giving customers instant access to everything everywhere, offering the best
value, best choice and best network experience in the country.
For more information on Everything Everywhere
please call the Media Centre on 0870 373 1500, or visit
www.everythingeverywhere.com

