A new number one mobile phone company may emerge in the UK, as Deutsche Telekom and France Telecom announced plans to join forces, merging their T-Mobile UK and Orange UK units respectively.
If the 50:50 joint venture becomes a reality, the new business will command 37% of mobile subscribers in the UK. The arrangement will allow the new company to serve up some stiff competition to Vodafone Group plc and the current number one – Telefonica SA’s O2. Deutsche Telekom gained 3.56% to US$ 13.97 at the close of trading yesterday.
Post a Comment