UK Approves Vodafone-Three Merger with Conditions

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.

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