Vodafone and Three plan to merge into the UK's largest mobile network
. If regulators approve the deal, Vodafone and Three's new company will become the largest mobile phone operator in the UK, with an estimated 27 million customers.
"Three UK and Vodafone UK currently lack the necessary scale on their own to earn their cost of capital. This has long been a challenge for Three UK's ability to invest and compete," CK Hutchinson Group Co-Managing Director Canning Fok said in a statement.
The merger with Vodafone isn't the first time Three has tried to couple up with a competitor. In 2015, its parent company announced, but the European Commission and Competition and Markets Authority blocked the purchase over concerns of"reduced competition" and"higher prices." However, O2 was able to merge with Virgin Media in 2021 after the CMA determined that similar concerns were unfounded.
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