If the merger proceeds, the combined company would become the world’s largest mobile operator, serving around 28 million customers. However, the consolidation would reduce the number of mobile operators in the UK to three, a move that regulators had previously blocked. A proposed merger between Three UK and O2 in 2016 was rejected on competition grounds. This deal would also result in CK Hutchinson, a Hong Kong-based business, exiting the UK market.
Reports of the merger between Vodafone and Three UK first emerged a year ago when Vodafone faced investor pressure to divest underperforming assets and pursue opportunities in competitive markets such as the UK, Italy, and Spain. The deal has faced several delays, including the departure of Vodafone’s CEO Nick Read in 2022, as the company searched for a replacement.
