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Deutsche Telekom CEO says expects deal with BT in Q1

Reuters - UK Focus

MANNHEIM, Germany, Dec (Shanghai: 600875.SS - news) 15 (Reuters) - Deutsche Telekom (Xetra: 555750 - news) said on Monday it expects to complete negotiations over the sale of its British mobile telephone subsidiary EE to BT in the first quarter of 2015.

Negotiations with BT went very well and should be completed in the first quarter, Deutsche Telekom CEO Tim Hoettges told Reuters on the sidelines of an event in the German city of Mannheim.

"If no significant obstacles arise in the due diligence process, it will pass quickly," Hoettges said.

BT said earlier on Monday it had entered into exclusive talks with EE owners Orange (Taiwan OTC: 4554.TWO - news) and Deutsche Telekom to buy EE for 12.5 billion pounds ($19.6 billion). ($1 = 0.6395 pounds) (Reporting by Peter Maushagen; writing by Kirsti Knolle; editing by David Clarke)