Overview
- Vodafone agreed Tuesday to buy CK Hutchison’s 49% stake in VodafoneThree for £4.3 billion, taking full ownership of the UK’s biggest mobile network.
- The price implies an enterprise value of about £13.85 billion for VodafoneThree, the venture formed in 2025 by merging Vodafone UK with Three UK.
- The transaction needs regulatory clearance, including review under the UK’s National Security and Investment Act, with completion targeted for the second half of 2026.
- Under the structure, Vodafone will provide pre‑completion funding to VodafoneThree, which will pay CK Hutchison in cash as its shares are cancelled at completion.
- Vodafone says full control will speed its 5G rollout and integration toward roughly £700 million in annual savings by 2030, while brands stay in place for now and Max Taylor remains chief executive.