This morning, it has been revealed that two UK mobile network operators, Vodafone and Three are planning on a merger, set to be worth around £15 billion. This deal follows on from the recent deal O2 and Virgin Media completed in 2021 which saw the two companies become one, sharing resources. If this deal is approved, Vodafone will own 51% of Three and Three will own 49% of Vodafone.
The two companies have been in talks since October 2022 but since then the progress has been slow. The deal now needs to be approved by the regulators here in the UK, with Ofcom and the Competition and Markets Authority (CMA) needing to review. This is now the third big merger in the mobile networks space recently, with EE and BT and then the mentioned O2 and Virgin Media.
If the deal is approved, no actual cash is going to change hands. Instead a percentage ownership of each company will be given.