UK mobile carriers Vodafone and Three have announced that they will be merging into one company and that they will be one of the largest 5G networks in Europe. Vodafone will own 51% of the new company and Three will own 49%.
Vodafone Group Plc (“Vodafone”) and CK Hutchison Group Telecom Holdings Limited (“CKHGT”), a wholly owned subsidiary of CK Hutchison Holdings Limited (“CK Hutchison”), have entered into binding agreements in relation to a combination of their UK telecommunication businesses, respectively Vodafone UK (“Vodafone UK”) and Three UK (“Three UK”) (the “Transaction”).
Vodafone will own 51% of the combined business (“MergeCo”) and CKHGT 49%.
Margherita Della Valle, Vodafone Group Chief Executive, described the merger of Vodafone UK and Three UK as being “great for customers, great for the country and great for competition.”
From day one, millions of customers of Vodafone UK and Three UK will enjoy a better network experience with greater coverage and reliability at no extra cost, including through certain flexible, contract-free offers with no annual price increases, and social tariffs.
You can find out more information about the merger between Vodafone and Three over at the Vodafone website at the link below, it will be interesting to see what benefits the merger brings to the two company’s customers.
Source Vodafone
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