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Vodafone, Three execs tell lawmakers their UK merger will benefit 5G, jobs

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LONDON : Executives from Vodafone and CK Hutchison's Three UK unit said their 15 billion pound ($18 billion) merger would benefit Britain's consumers, infrastructure and jobs, as lawmakers scrutinise the planned tie-up.

Vodafone and Three UK have pledged to invest 11 billion pounds to build a 5G network for Britain as part of their bid to secure backing from politicians, unions and competition authorities for the merger announced in June.

"We believe that actually jobs will be created as a consequence of this merger both for building the network, and to create and support the IT systems, and to maintain this new network," Vodafone UK's corporate affairs and sustainability director Nicki Lyons said. They warned that without the deal, Britain's 5G network would continue to lag that of other European nations.

The two companies have long known that a proposed merger would face intense scrutiny from regulators who have previously opposed deals that reduce the number of networks in major markets from four to three.

 

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