Subj : Vodafone and Three could announce merger tomorrow
To   : All
From : TechnologyDaily
Date : Thu Jun 08 2023 14:15:03

Vodafone and Three could announce merger tomorrow

Date:
Thu, 08 Jun 2023 13:00:20 +0000

Description:
The deal is done and the announcement is on the cards, reports claim.

FULL STORY
======================================================================

Vodafone and CK Hutchinson - the owner of Three - are about to announce a 
merger in the UK, according to a report from Reuters. The news agency said 
the deal could be announced either this Friday, or early next week. 

Apparently, the deal will be in line with what was reported in October last 
year - namely that Vodafone would own the majority of the combined group 
(51%), with Hutchinson keeping the remaining 49%. 

It was also said that the new company would be valued at approximately $18.6 
billion, debt included. Shareholder pressure 

The story of the Vodafone/CK Hutchinson merger has been ongoing for quite 
some time now, and triggered major moves in the market. 

Some argue that former Vodafone CEO, Nick Read, stepped down due to not being 
able to consolidate the UK market, which was one of his major goals. This 
inability frustrated shareholders, which resulted in the change at the helm. 

The new CEO, Margherita Della Valle, stepped in and has been feeling the 
pressure to improve the companys performance. Less than a month ago, Della 
Valle announced the company would be cutting 11,000 jobs in an effort to 
become more agile on the market. Read more 

> Vodafone and Three merger talks to accelerate this month 


 > Vodafone and Three confirm possible merger talks 


 > These are the best cell phone plans 

The deal also raised some concerns, as the regulators did not view the idea 
of reducing the number of network operators in a major market such as the UK 
kindly. The deal is still pending regulatory approval, Reuters added. 

On the other hand, Hutchinsons CFO, Frank John Sixt also said that finalizing 
the deal was extremely difficult. 

If the deal does end up going through, the resulting group will become the 
biggest mobile operator in the UK, with some 27 million customers. That would 
place it above BTs EE and VM O2, as well as Liberty Global, Reuters claims. 
Check out the best cheap cell phone plans 

Via: Reuters



======================================================================
Link to news story:
https://www.techradar.com/news/vodafone-and-three-could-announce-merger-tomorr
ow


--- Mystic BBS v1.12 A47 (Linux/64)
 * Origin: tqwNet Technology News (1337:1/100)

.