UK CMA Conditionally Approves £15 Billion Vodafone-Three Merger with £11 Billion Investment Commitment

Dec 5, 2024, 09:15 AM

Britain's Competition and Markets Authority (CMA) has conditionally approved the £15 billion ($19 billion) merger between Vodafone and Three UK, the subsidiary of Hong Kong-based CK Hutchison owned by Li Ka-shing. The merger will create the UK's largest mobile operator by revenue, reducing the number of mobile infrastructure operators from four to three. The approval is contingent upon the companies committing to invest £11 billion in the UK's digital infrastructure. The deal is expected to formally complete during the first half of 2025, following a 10-month inquiry by the CMA that balanced investment promises against concerns about higher customer bills.