British regulator approves Vodafone UK, Three merger [Yahoo! Finance]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance
The merged group will invest £11 billion to create one of Europe's most advanced 5G networks, reaching 99% of the UK population. The deal, valued at £16.5 billion, is expected to complete in the first half of next year and will boost competition in the UK mobile sector, according to the regulator. Vodafone and Three, the UK division of Hong Kong-based CK Hutchison, are set to create Britain's biggest mobile phone operator after the country's competition regulator backed the deal Thursday. The Competition and Markets Authority (CMA) said in a statement that the tie-up will proceed after the companies pledged to invest billions of pounds on rolling out a high-speed 5G network across the UK. The planned tie-up, first made public in June last year, is valued at around £16.5 billion ($21 billion) by Vodafone and Three, which have 27 million customers combined. The merger, set to complete during the first half of next year according to Vodafone, vaults the new group above the UK's t
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