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.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: nbcchicago - 🏆 545. / 51 Read more »
Source: sdut - 🏆 5. / 95 Read more »
Source: ksatnews - 🏆 442. / 53 Read more »
Source: nypost - 🏆 91. / 67 Read more »