Vodafone will merge its British arm with Three UK, owned by Hong Kong’s CK Hutchison, in a deal that is likely to attract regulatory scrutiny.
This proposed merger will result in the joint company holding 27 million customers in the region, with a target value of A$30.75 billion.
“The figure is what we feel would represent success a few years after the merger” a Vodafone spokesman said of the deal.
The two companies hope to complete the merger by the end of 2024. If successful, the combined company will become the nation’s largest telco, leapfrogging BT EE and Virgin Media O2.
Vodafone will take 51 per cent, with CK Hutchison holding the remainder.
