Vodafone and Three Agree to Combine to Create Biggest UK Mobile Network
- Vodafone has right to buy CK Hutchison stake after three years
- Vodafone and Three merger faces review from CMA and Ofcom
Smartphones displaying the Three UK and the Vodafone Group Plc apps.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Vodafone Group Plc and CK Hutchison Holdings Ltd. agreed to combine their UK mobile businesses in a deal that will create the biggest wireless company in the country if it passes muster with regulators.
Vodafone will own 51% of the new company and Hong Kong billionaire Li Ka-shing’s CK Hutchison will control the remainder, the companies said in a statement on Wednesday. Vodafone will have the right to acquire the entire merged business after three years, if it reaches a value of at least £16.5 billion ($20.9 billion) including debt. The companies expect to close the deal before the end of 2024.