UK's BT in 'Exclusive Negotiations' to Buy EE

U.K.'s BT said it began “exclusive negotiations” with Deutsche Telekom and U.K. telco Orange to buy the EE wireless carrier for the equivalent of $19.5 billion in cash and new BT shares. The proposed deal would give DT a 12 percent ownership stake in BT, while Orange would own 4 percent. The exclusivity of those negotiations will last for several weeks, allowing BT to finalize a definitive deal and complete its due diligence, BT said in a Monday news release.