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Vodafone Group PLC on Tuesday announced the acquisition of all of UK mobile operator VodafoneThree in a buyout of joint venture parter CK Hutchison Group Telecom Holding Ltd. The Berkshire, England-based telecommunications provider said it will pay £4.3 billion in cash to cancel the shares in the joint venture held by CK Hutchison. VodafoneThree is currently 51% owned by Vodafone, with Hong Kong-based CK Hutchison holding the remaining 49%, which Vodafone is set to acquire. Vodafone said the agreement implies an enterprise value for VodafoneThree of £13.85 billion, including debt. The deal is expected to increase Vodafone’s pro format net debt to adjusted earning by 0.4 times, it said. VodafoneThree, according to Vodafone, is the UK’s largest mobile operator, ‘and one of the fastest growing broadband providers’. Vodafone said it has made significant progress in integrating Vodafone UK and Three UK since the merger of the two last year. Vodafone said is now is more confident on delivering its plans to create one of Europe’s leading telecommunications networks, including a realisation of £700 million in annual cost and capital expenditure synergies by financial year 2030. Vodafone Chief Executive Officer Margherita Della Valle said: ‘I’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 his role as CEO of VodafoneThree, supported by the existing VodafoneThree leadership team. VodafoneGroup expects the move to full ownership to complete in the second half of 2026. The deal is subject to approvals under the UK National Security & Investment Act. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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