Vodafone, Hutchison expected to announce UK merger as soon as Friday, sources say

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Vodafone, Hutchison expected to announce UK merger as soon as Friday, sources say via IrishTimesBiz

Talks about the deal to create Britain's biggest mobile operator have been protracted. Hutchison's chief financial officer Frank John Sixt said last month that getting it over the line was proving to be"extremely difficult".

Her predecessor Nick Read identified Britain as one of four markets that would benefit from consolidation, but a lack of progress frustrated shareholders, leading to him stepping down in December. The deal will face intense scrutiny from regulators who have previously opposed deals that reduce the number of networks in major markets from four to three.

Hutchison has said it does not cover the cost of its capital in Britain, potentially hampering its ability to invest.

 

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