Vodafone's U.K.'s Merger With Three Conditionally Approved by U.K. Antitrust Regulator

By Najat Kantouar

The U.K. Competition and Markets Authority conditionally approved the merger of Vodafone's U.K. arm with telecommunications company Three provided they agree to invest in 5G network access in the country.

The regulator said Thursday that it will oversee commitments from the companies to implement their merger plan.

Both companies have pledged to invest 11 billion pounds ($13.97 billion) to create an advanced next-generation 5G network. The new network is expected to reach a wide range of the population and benefit over 50 million customers, Vodafone said.

U.K. telecoms group Vodafone and CK Hutchison Holdings' Three struck a deal to combine their U.K. businesses in June last year. Vodafone would own 51% of the merged entity, and the remaining 49% would be in the hands of the Hong Kong-based conglomerate.

The regulator, which started its investigation into the deal in September, provisionally approved the deal on Nov. 5 provided its concerns were addressed.

Write to Najat Kantouar at [e-mail]

(END) Dow Jones Newswires

12-05-24 0314ET