Naman Ramachandran Vodafone Group Plc and CK Hutchison Group Telecom Holdings Limited (CKHGT), a wholly-owned subsidiary of Hong Kong’s CK Hutchison Holdings Limited, have signed formal agreements to merge their U.K.
telecommunication businesses. CKGHT operates as Three in the U.K. Vodafone, which uses its own brand, will own 51% of the combined business and CKHGT 49%.
If the merger is approved, the combined entity, which will be valued at some £15 billion ($19 billion), will become one of Europe’s largest 5G players and the U.K.’s largest mobile operator with 27 million customers, overtaking BT’s EE and Telefonica and Liberty Global’s Virgin Media O2.
Vodafone will have the option to acquire CKHGT’s stake in the future. The move is significant in a market where video viewing on mobile phones is on the rise with TikTok, YouTube and Netflix among the most popular apps.
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