Vodafone is to take full ownership of VodafoneThree after agreeing a 拢4.3 billion deal to buy the 49% stake owned by CK Hutchison.
The 拢16.5bn merger of telecoms giants Vodafone and Three – the latter owned by CK Hutchison Group Telecom Holdings Limited – completed just last summer after it was given the green light by the Competition and Markets Authority in December 2024.
The deal, which followed a multi-billion-pound commitment to upgrade the merged company鈥檚 network across the UK – including 拢11bn to roll out 5G – gave Vodafone 51% of the combined entity.
Now Vodafone Group Plc will become sole owner via a cancellation of shares.
Vodafone said significant progress has been made in integrating the two businesses, leading to considerable improvements in network quality, delivered ahead of schedule.
鈥淭his strong start to the integration means we are now even more confident on delivering our plans to create one of Europe’s leading telecoms networks, which include expecting to realise 拢700 million annual cost and capital expenditure synergies by FY30,鈥� stated Vodafone.
鈥淲e believe now is the right time to take full ownership of VodafoneThree, enabling us to move at an even faster pace to transform the UK’s digital infrastructure and realise value for our shareholders.鈥�
Margherita Della Valle, CEO of Vodafone Group, said: “A year on from the merger, the team has made remarkable progress, as we maximise the full potential of VodafoneThree and capture the significant synergies.
鈥淚’m delighted that we will now have full ownership of VodafoneThree as we roll out one of Europe’s most advanced 5G networks, provide the UK’s best customer experience and drive long-term value for our shareholders.”
Max Taylor will continue in his role as CEO of VodafoneThree, supported by the existing leadership team.
Completion is subject to the receipt of approvals under the UK National Security and Investment Act, associated with Vodafone moving to 100% ownership, and the Transaction is expected to complete in the second half of 2026.
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