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Share Price: 139.55
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EE Chief Olaf Swantee To Leave When BT Takeover Completes

Mon, 04th Jan 2016 09:50

LONDON (Alliance News) - The chief executive of mobile operator EE Ltd will step down after the conclusion of its takeover by BT Group PLC, the company said on Monday.

Olaf Swantee will step down as EE's chief executive and as an executive director once the GBP12.5 billion deal is completed.

Marc Allera, currently the chief commercial officer of EE, will become CEO and be appointed to the EE Ltd board when Swantee departs.

The acquisition was cleared by the UK's Competition and Markets Authority, the antitrust regulator, in October without any remedies, such as disposals, being required to gain passage. It marks BT's re-entry to the mobile market in the UK for the first time since it sold its Cellnet business back in 2002. Cellnet was later re-named O2.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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