Vodafone, agreement with CK Hutchinson for the merger of the mobile network in the UK
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Vodafone and CK Hutchison (group that controls operator Three UK) will combine their UK operations, creating the country’s largest mobile operator. The announcement, with the details, seals an operation that has been awaited since last autumn, when the two groups revealed that they were in talks for the operation. Vodafone will hold 51% of the company, Hutchison the remaining 49%: the current head of Vodafone UK, Ahmed Essam, will be at the helm, while the CFO of Three UK, Darren Purkis, will assume the same role in the new group.
The deal, if approved by regulators, will create a group with a total of 27 million mobile customers. In a joint note, the two groups announced an investment of 11 billion pounds over 10 years to create “one of the most advanced autonomous 5G networks in Europe, in full support of the objectives of the UK Government”. Vodafone and CK Hutchison expect the deal to close by the end of 2024.
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