LONDON/HONG KONG :Vodafone and CK Hutchison finally unveiled the 15 billion pound merger of their British operations on Wednesday, saying the creation of the country's largest mobile operator would be good for the economy.
Vodafone will own 51 per cent and Hutchison 49 per cent of the combined group, which will be led by current Vodafone UK boss Ahmed Essam, the companies said. The finance chief of Hutchison's Three UK, Darren Purkis, will take the same role in the new group. The deal will face prolonged scrutiny from regulators who have previously opposed deals that reduce the number of networks in major markets from four to three.
It said customers would not face extra costs, and there would be flexible, contract-free offers with no annual price increases, plus social tariffs.
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