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Exclusive: Vodafone and Hutchison to announce UK merger as soon as Friday

  • 📰 Reuters
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Vodafone and CK Hutchison are in the final stages of agreeing to merge their British operations, with a long-awaited announcement expected as soon as Friday or early next week, three sources have told Reuters.

are in the final stages of agreeing to merge their British operations, with a long-awaited announcement expected as soon as Friday or early next week, three sources have told Reuters.

The structure of the agreed deal is in line with Vodafone's announcement in October, with the British group owning 51% and Hutchison owning 49%, achieved by adjusting the ownership of debt rather than exchanging cash, one of the sources said.Hutchison declined to comment. Vodafone was not immediately available to comment.

The tie-up will create Britain's biggest mobile operator with about 27 million customers, overtaking BT's

 

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