Orange and T-Mobile's parents France Telecom and Deutsche Telekom have signed the final agreement needed to ensure their proposed merger goes ahead - although the deal has still got to get the green light from regulators.
The paperwork forms a binding agreement and irons out the finer details of the deal announced back in September. Once complete, the resulting company will be a 50/50 joint venture in the UK.
"This joint venture is based on the full commitment of Deutsche Telekom and France Telecom to a long term partnership," said Timotheus Httges, chief financial officer of Deutsche Telekom, in a statement.
"I am very pleased to say that the spirit of this partnership is reflected in the way we conducted and concluded our talks. Our joint venture, which has now passed a major milestone, will set new standards in the UK mobile sector."
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