Thomas Seal, Vinicy Chan and Ruth DavidVodafone and Three UK are battling to overcome a raft of regulatory and political hurdles threatening to derail efforts to create Britain’s largest mobile operator, people familiar with the matter said.
High on the agenda has been the potential response of competition watchdogs to any move that would see a smaller rival taken out of the market, according to the people. Shares of Vodafone fell for a fifth day on Wednesday, dropping as much as 3.3% to hit the lowest intraday level since September 1997.Vodafone and CK Hutchison confirmed they were in discussions about merging their UK businesses in October. Under proposed terms disclosed at the time, Vodafone would own 51% of the new venture, with the rest held by Hong Kong-based CK Hutchison.
Vodafone and CK Hutchison are eager to pitch the fact that CK Hutchison has operated other important UK infrastructure, including ports and power networks, for years without issue as a way of assuaging any concerns among British policymakers, according to the people.
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