This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8243226.stm

The article has changed 22 times. There is an RSS feed of changes available.

Version 1 Version 2
T-Mobile UK and Orange to merge T-Mobile UK and Orange to merge
(10 minutes later)
UK mobile phone giants T-Mobile UK and Orange are to merge, their parent companies have said. T-Mobile UK and Orange are to merge - becoming the UK's biggest mobile phone firm with 28.4 million customers.
The deal between Orange owner France Telecom and Deutsch Telekom's T-Mobile UK will create a firm with sales of 9.4bn euros (£8.2bn; $13.5bn). The deal between Orange owner France Telecom and Deutsch Telekom's T-Mobile UK will create a business with sales of 9.4bn euros (£8.2bn; $13.5bn).
The merged firm will have about 37% of the UK mobile market - overtaking the current leader, Telefonica's O2. The merged firm will have about 37% of the UK mobile market - overtaking the current market leader, Telefonica's O2.
It is the second large corporate deal in two days after a Kraft Food's £10.2bn takeover proposal for Cadbury. It is the second large corporate deal in two days, after Kraft Food's £10.2bn takeover proposal for Cadbury.
'Champion''Champion'
T-Mobile is currently the fourth-largest mobile operator in the UK, with a 15% share of the market.T-Mobile is currently the fourth-largest mobile operator in the UK, with a 15% share of the market.
O2 is the largest UK operator, with a 27% share, followed by Vodafone (25%) and Orange (22%). O2 has a 27% share, followed by Vodafone (25%) and Orange (22%).
The firms said in a joint statement that they hoped to create "a new mobile champion". The firms said in a joint statement that they hoped to create "a new mobile champion", adding that it was hoped the 50:50 joint venture could be signed by November.
They also said that it was hoped the 50:50 joint venture could be signed by November. Integrating the business will cost between £600m and £800m, the firms said. This bill would include decommissioning mobile phone masts, cutting back the network of stores and streamlining other operations.
Integrating the business will cost between £600m and £800m, the firms said. These would include decommissioning mobile phone masts, cutting back the network of stores and streamlining other operations.
Savings should reach about £445m a year by 2014, they added.Savings should reach about £445m a year by 2014, they added.