10/3, 11:57 AM (Source: TeleTrader)
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Vodafone, Three UK near merger deal - report

Vodafone Group Plc and Three UK, a subsidiary of CK Hutchison Holdings Limited, are potentially nearing the agreement to establish a joint venture, SkyNews reported on Monday, citing people familiar with the matter.

The combined Vodafone-Three UK operation, which is expected to be worth between £12 and £15 billion, would aim to decrease the number of major network providers from four to three. The merger would make it the biggest mobile telecoms supplier in the country, according to the sources, with a combined consumer base of around 27 million, or 46% of all UK mobile users.

People familiar with the matter described the merger deal as being at a "relatively advanced" stage, although none of the firms commented on the report.

Baha Breaking News (BBN) / AB