Vodafone and Three to form new U.K. new mobile company in challenge to BT

Vodafone Group PLC VOD UK:VOD and CK Hutchison Group Telecom Holdings, a subsidiary of CK Hutchison Holdings Ltd. HK:1, on Wednesday announced a deal to combine their U.K. businesses. “The merger will create a third operator with scale, leveling the competitive playing field, increasing competition to the UK’s two leading converged operators,” the companies said. BT’s EE limited is currently the U.K.’s biggest mobile player.

“The merger will create a third operator with scale, leveling the competitive playing field, increasing competition to the UK’s two leading converged operators,” the companies said. BT’s EE limited is currently the U.K.’s biggest mobile player. Under the deal terms, Vodafone will own a 51% chunk and CK Hutchison a 49% stake. “MergeCo will reach more than 99% of the U.K.

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