February 12, 2015 / 7:14 AM / 3 years ago

BT raises around one billion pounds to fund EE deal

A man talks on his mobile phone as he walks past a BT logo in London, February 5, 2015. REUTERS/Suzanne Plunkett

LONDON (Reuters) - Britain’s BT raised around 1 billion pounds through a placing on Thursday of shares at 455 pence to help fund its 12.5 billion pound ($19 billion) acquisition of mobile operator EE.

BT had already announced the placing when it confirmed the details of the acquisition last week.

It said on Thursday the placing represented around 3 percent of its outstanding share capital. It placed 222 million new shares via JP Morgan, Merrill Lynch and Goldman Sachs.

Its shares were trading down 1.3 percent at 454 pence at 1445 GMT.

Reporting by Kate Holton, Editing by Paul Sandle

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