The deal would create the largest mobile company in the country
Mobile phone companies Orange and T-Mobile is in talks to merge their operations in the UK, an operation that can create the biggest mobile company in this country, with 28.4 million customers.
In a statement, the companies said Tuesday that the agreement between Deutsche Telekom, which owns T-Mobile, Orange and France Telecom will create a company with revenues estimated at almost 10,000 million euros.
The merged firm may have about 37% of mobile market in the UK, surpassing the current leader, Telefonica 02.
Orange and T-Mobile confirmed today that talks remain "exclusive" to join forces in a joint venture equally.
Telefonica O2, leading
T-Mobile is currently the fourth largest largest mobile phone in the UK, with a market share of 15%, while O2 has 27%, followed by Vodafone, with 25%, and Orange, with 22 %.
Both companies expect the deal to close in November
The two companies said today they expect this joint agreement can be completed by next November.
It is estimated that business integration will cost between 600 and 800 million pounds (between 684 and 912 million euros), added firms, who felt that their savings can grow to 445 million pounds ($ 507 million ) for 2014.
Phone operator Vodafone, British owned, and O2, owned by Telefonica, had also been locked in a battle to take control of T-Mobile, according to published last weekend, the British Sunday papers.