BT Group
BT has agreed to buy EE, the UKs largest mobile phone network, in a cash and shares deal worth £12.5 billion. The deal, which BT said would create the UK's leading communications provider, will be partly financed by a £1 billion share issue.
Mobile network Three is reportedly set to acquire its rival O2 for more than £10bn in cash. Hong Kong tycoon Li Ka-shing is set to become one of the biggest foreign investors in the UK when his Hutchison Whampoa conglomerate acquires the O2 network from its Spanish owner Telefónica.