BT to Acquire EE for

Nigel Thomas
16 Dec, 2014
New York City

BT Group is in talks to acquire EE for

[R]4:00 PM Frankfurt – BT Group is in talks to acquire EE for £12.5 billion in a cash-and-stock deal. BAE Systems awarded a contract worth £270 million from the Ministry of Defence. Metro AG profit surged 214% to €182 million but sales dropped 4%. Repsol agreed to acquire Talisman Energy for $13 billion.[/R]

In London trading, FTSE 100 index gained 0.7% or 43.43 to 6,226.15 and in Frankfurt the DAX index increased 0.9% or 87.35 to 9,421.36.

In Paris, CAC 40 index rose 0.3% or 14.09 to 4,019.47.

BT Group Plc gained 1.1% to 402.20 pence and the U.K.-based communications service provider is in talks to acquire domestic mobile network operator EE Limited for £12.5 billion or $19.6 billion in a cash-and-stock deal.

BAE Systems Plc jumped 2.2% to 444.40 pence after the U.K.-based defense, aerospace and security products maker awarded a contract worth £270 million to upgrade Spearfish torpedoes for the Royal Navy''s submarines from the Ministry of Defence.

Metro AG] slumped 2.3% to €22.83 after the Germany-based department store operator reported sales in the year ending in September dropped 4% to €63.04 billion from €65.68 billion a year ago period.

Profit in the year soared 213.8% from a year ago to €182 million compared to €58 million and earnings per share jumped to €0.39 from €0.11.

The company’s net debt reduced by €736 million to €4.7 billion compared to €5.4 billion a year ago period.

Repsol SA dropped 2.9% to €15.24 after the Spain-based oil and gas explorer agreed to acquire Canada-based energy company Talisman Energy Inc for $8 a share or C$9.33 per share in cash or total of about $13 billion.

The deal is expected to close in the second quarter of 2015.