Vodafone Group Plc has unveiled its merger plan with Three UK, a subsidiary of CK Hutchison. To this end, the company noted that it is in talks with CK Hutchison on merging their businesses in Britain to create a market leading operator that could accelerate the roll-out of 5G and expand broadband connectivity.
Under the proposed deal, Vodafone would own 51 per cent and CK Hutchison would own 49 per cent, with the shares achieved through differential leverage contribution and no cash consideration paid. Combining Vodafone UK and CK Hutchison’s Three would create a business with 27 million customers, making it larger than current major players.
