fbpx

Vodafone and Three agree tie-up to create biggest UK mobile player

The merged group will be majority owned by FTSE 100-listed Vodafone, with 51% of the combined business.

Vodafone and Three owner CK Hutchison have agreed to merge their UK operations in a deal that will create Britain’s biggest mobile phone player worth a reported £15 billion.

The merged firm will be majority owned by FTSE 100 listed Vodafone, with 51% of the combined business and CK Hutchison owning the remaining 49%.

The groups said the tie-up will help them compete with their rivals in the roll-out of 5G, with the new company set to reach more than 99% of the UK population with their 5G standalone network.

The groups are expected to have a combined 27 million customers if the deal gets the go ahead.

Margherita Della Valle, chief executive of Vodafone, called the deal a “gamechanger”.

She said: “The merger is great for customers, great for the country and great for competition.

“It’s transformative as it will create a best-in-class – indeed best-in-Europe – 5G network, offering customers a superior experience.

“As a country, the UK will benefit from the creation of a sustainable, strongly competitive third scaled operator – with a clear £11 billion network investment plan – driving growth, employment and innovation.

“For Vodafone, this transaction is a gamechanger in our home market. This is a vote of confidence in the UK and its ambitions to be a centre for future technology.”

More from Perspective

Get a free copy of our print edition

News

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Your email address will not be published. The views expressed in the comments below are not those of Perspective. We encourage healthy debate, but racist, misogynistic, homophobic and other types of hateful comments will not be published.