
Vodafone confirmed that it was in merger discussions with Three UK, a carrier owned by CK Hutchison, to accelerate their 5G rollout. A deal would not involve any cash consideration, Vodafone said.
“The envisaged transaction would involve both companies combining their UK businesses, with Vodafone owning 51% and our partner CK Hutchison owning 49% of the combined business,” it wrote in its official statement to the market published earlier today. The statement itself was made in response to press speculation around a possible deal, Vodafone noted. It described the combination as a “no cash” deal — that is, no actual price tag, or deal valuation, or other financial consideration paid as there might be with an acquisition.
Vodafone is traded publicly in the UK, and its market cap is currently around £28.7 billion, or $32.2 billion at today’s rates. CK Hutchison has a market cap of about $21 billion (but that also controls other assets).
Vodafone Chief Executive Nick Read said in February the company was pursuing mergers in multiple European markets to improve returns where players barely cover the costs of the capital required to invest in networks.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Court Order Temporarily Halts U.S. Consumer Financial Protection Bureau Layoffs
Feb 16, 2025 by
CPI
Nokia Poised to Gain EU Approval for $2.3 Billion Infinera Acquisition
Feb 16, 2025 by
CPI
Turkey Fines Frito-Lay in Antitrust Crackdown
Feb 16, 2025 by
CPI
Advances Bill to Strengthen Antitrust Enforcement Through AI
Feb 16, 2025 by
CPI
Intel Faces Potential Breakup as Broadcom and TSMC Explore Deals
Feb 16, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon