British regulator says $19.5 billion Vodafone-Three merger could go ahead if remedies are adopted

LONDON British telecom firms Vodafone and Three's multibillion-pound merger could go ahead if the companies adopt a series of proposed remedies to clear competition concerns, regulators said Tuesday.

maintaining certain existing mobile tariffs and data plans for at least three years for both current and future Vodafone and Three customers, including their sub-brands "Our provisional view is that binding commitments combined with short-term protections for consumers and wholesale providers would address our concerns while preserving the benefits of this merger," McIntosh said in a statement Tuesday.Vodafone and Three hold that the CMA's remedy framework"provides a path to final clearance," a Vodafone spokesperson told CNBC via email Tuesday.

The deal, which marks one of the first major U.K. telecom consolidation efforts in several years, would reduce the number of mobile operators in the country to just three. Vodafone and Three were lagging behind larger rivals EE, which was bought by BT in 2016, and behind O2, which is owned by Telefonica and Liberty Global.

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