Mobile network operator Everything Everywhere (EE) is reportedly the subject of a £8bn (€6.3bn) takeover deal led by Tom Alexander, the former chief executive of the group, and backed by KKR and Apax.
EE was formed in 2010 from the British assets of Deutsche Telekom, which owns T-Mobile, and Orange's parent company France Telecom, and has some 27 million customers. Should Alexander's team secure the deal, it is expected to focus the business around the Orange brand, leading to speculation that T-Mobile may be dropped altogether, according to the Daily Telegraph.
While Deutsche Telekom is divesting non-core assets and France Telecom has voiced an interest in floating a stake in EE, it is uncertain whether they would sell up.
In a statement made yesterday, France Telecom denied that an offer had been made for the UK business.
"We have a clearly articulated, five-year plan for growth under the ownership of our shareholders France Telecom and Deutsche Telekom, and we are delivering on that plan,” a spokesman from EE told the Daily Telegraph.