BT to Raise Cash for EE

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At a cost of £12.5bn, EE’s takeover is to be financed partly by a new placing of BT shares, announces the telecoms giant.

The placement will ease BT’s debt burden as they also need to fund £860m over the next 3 years for the rights to a quarter of live Premier League games.

Led by JP Morgan, Merrill Lynch and Goldman Sachs will act as joint bookrunners for the share placement.