Vodafone to Buy Out UK’s Biggest Operator for $5.8 Billion

Vodafone Group Plc is buying CK Hutchison Holdings Ltd. stake in the UK’s largest mobile operator in a deal worth £4.3 billion ($5.8 billion), as Chief Executive Officer Margherita Della Valle accelerates a plan to consolidate in the company’s biggest markets.

VodafoneThree, which was created last year by a merger of UK operators owned by CK Hutchison and Vodafone, will pay the Hong Kong-based company in cash to buy out its 49% stake in the group, according to a filing on Tuesday. After the combination, Vodafone had the option to take over the business within a three-year window.