Vodafone and Three Merge to Create UK's Largest Mobile Network, Pledge $14 Billion for 5G
- Vodafone and Three plan to merge, creating the largest mobile phone operator in the UK with 27 million customers.
- Vodafone will own 51% of the new company, while CK Hutchinson controls the rest.
- The merger aims to address the challenge of lacking necessary scale to earn their cost of capital and invest in 5G infrastructure.
- The merger needs the approval of U.K.’s Competition and Markets Authority (CMA).
- The merged entity will invest £11 billion ($13.9 billion) in the U.K. over 10 years to create one of Europe’s most advanced standalone 5G networks.
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