Competition watchdog approves Vodafone and Three’s £15bn merger

The Competition and Markets Authority has approved Vodafone and Three’s £15 billion merger.

This comes with the condition that the telecommunications deal can only go through if they both agree to invest billions to a combined 5G rollout across the UK’s network.

Stuart McIntosh, chairman of the independent inquiry group leading the CMA’s investigation, said the merger is “likely to boost competition in the UK mobile sector and should be allowed to proceed – but only if Vodafone and Three agree to implement our proposed measures.”

Vodafone chief Margherita Della Valle said this “creates a new force in the UK’s telecoms market and unlocks the investment needed to build the network infrastructure the country deserves.

“Consumers and businesses will enjoy wider coverage, faster speeds and better-quality connections across the UK, as we build the biggest and best network in our home market.

“Today’s approval releases the handbrake on the UK’s telecoms industry, and the increased investment will power the UK to the forefront of European telecommunications.”

Canning Fok, deputy chairman of CK Hutchison, which owns Three UK, said the merger will ensure “customers across the country benefit from world-beating network quality.”