BT Share News (BT.A)

(ShareCast News) - BT's £12.5bn acquisition of the EE mobile network has been provisionally approved by UK competition officials unconditionally and without remedies. The Competition and Markets Authority (CMA) said on Wednesday morning it had decided the acquisition "is not expected to result in a substantial lessening of competition in any market in the UK".The CMA said it thought the retail mobile market in the UK, with four main mobile providers and a substantial number of smaller operators, would be competitive."As BT is a smaller operator in mobile, it is unlikely that the merger will have a significant effect on competition. By the same token, it is unlikely that the merger will have a significant effect on competition in the retail broadband market, where EE is only a minor player," said John Wotton, the inquiry's chair.Looking at the ways in which a merged BT-EE might try to disadvantage competitors which it supplied with services such as backhaul, wholesale mobile or wholesale broadband services, the watchdog found it would either be "unlikely" or that any attempts to do so would be limited.Looking at how the tie-up would affect competition in a number of different areas of the telecoms sector, the CMA said the supply of retail mobile, wholesale mobile, mobile backhaul, wholesale broadband and retail fixed broadband services would all remain competitive enough.BT chief executive Gavin Patterson said: "We're pleased that the CMA has provisionally approved BT's acquisition of EE. The combined BT and EE will be good for the UK, providing investment and ensuring consumers and businesses can benefit from further innovation in a highly competitive market".Shares in BT rose 4% in the first few minutes of trading to 470.14p.