Britain's competition regulator on Thursday approved the merger between telecommunication firms Vodafone and Three in the U.K., subject to certain conditions.
The Competition and Markets Authority said the £15 billion tie-up should be allowed to proceed if both companies sign"binding commitments to invest billions" to roll out a combined 5G network across the U.K.The combined entity would also be required to cap certain mobile tariffs and"offer preset contractual terms" to so-called mobile virtual network operators — mobile operators that piggyback off of another company's network.
"This mega-merger marks one of the most significant moments in the history of UK mobile, heralding the arrival of a new market leader with a combined 29 million customers," Kester Mann, director of consumer and connectivity at CCS Insight, said in a note on Thursday."The outcome – after months of intense regulatory scrutiny – is about as good as it could have got for Vodafone and Three.
Vodafone has previously said the combined entity would invest £11 billion into U.K. telecommunications infrastructure.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK Regulators Approve Vodafone-Three Merger With ConditionsThe Competition and Markets Authority (CMA) has approved the merger between Vodafone and Three in the U.K., contingent on commitments to roll out a 5G network and offer favorable terms to MVNOs.
Read more »
British regulators approve $19 billion Vodafone-Three mobile mergerBritish regulators said the tie-up can proceed if both companies sign “binding commitments to invest billions” to roll out a 5G network across the…
Read more »
Attorney General approves Rady Children’s-CHOC mergerAnnounced in 2023, new organization would be called Rady Children’s Health
Read more »
San Antonio City Council approves merger of two existing climate advisory committeesSan Antonio City Council approved a proposed merging ordinance for the city’s two existing climate advisory committees, setting in motion a singular team to oversee sustainability efforts.
Read more »
Skydance boss David Ellison to chop Paramount's three-headed CEO structure after merger: reportDavid Ellison, son of Oracle billionaire Larry Ellison who will run the combined company as chairman and CEO, is planning changes at Paramount.
Read more »