Vodafone Group Plc and CK Hutchison Group Telecom Holdings Limited have officially completed the merger of Vodafone UK and Three UK as of May 31, 2025. The newly formed company will operate under the name VodafoneThree.

Vodafone now holds a 51% stake in the joint venture, while CK Hutchison owns the remaining 49%. Vodafone will include Vodafone Three’s financial performance in its reports. Max Taylor, currently the CEO of Vodafone UK, has been appointed Chief Executive Officer of Vodafone Three. Three UK’s Darren Purkis will be the Chief Financial Officer.

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An Investment of £11 Billion in the UK’s 5G Future

VodafoneThree intends to spend £11 billion over the next ten years to build one of Europe’s most advanced 5G networks. This major investment aims to enhance mobile connectivity across the UK, offering faster and more reliable service for both individuals and businesses.

In its first year alone, the company plans to invest £1.3 billion in capital expenditure to speed up network rollout. The combined entity aims to save £700 million annually in operational and capital costs by the fifth year. Vodafone expects the merger will begin to positively impact its adjusted free cash flow starting in fiscal year 2029. Vodafone will share the financial details in line with its reporting standards in the future.

Industry leaders view the merger as a significant step toward strengthening the UK’s digital infrastructure. Reliable mobile connectivity is increasingly vital to the nation’s economic growth, public services, and digital inclusion efforts. By focusing on standalone 5G technology, Vodafone Three aims to position the UK as a leader in European mobile networks.

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What the Leaders Are Saying

Vodafone Group CEO Margherita Della Valle commented, “This merger creates a new leader in UK mobile, reshapes our digital infrastructure, and helps push the UK to the top of European connectivity. We’re excited to start building the new network and deliver better coverage and quality for our customers. This marks the completion of our strategic reshaping in Europe, and we’re now ready to focus on growth.”

Canning Fok, Deputy Chairman of CK Hutchison and Executive Chairman of CKHGT, added, “We’ve seen across Europe that scale is essential for delivering top-tier mobile networks. This merger gives us that scale in the UK and also delivers value to our shareholders, including a return of around £1.3 billion in net cash to the group.”

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About Vodafone Group Plc

Vodafone is one of the world’s biggest telecommunications firms, with over 300 million mobile users across Europe and Africa. The company offers mobile, fixed, and cloud services to individuals, businesses, and governments. Vodafone invests in next-generation networks, including 5G and IoT, while focusing on digital inclusion and sustainability.

About CK Hutchison Holdings Limited

CK Hutchison is a multinational company with its headquarters located in Hong Kong that operates in over 50 countries. Its telecom business, CK Hutchison Group Telecom, serves over 175 million subscribers in Europe and Asia. The group actively operates in ports, retail, infrastructure, and energy, and drives digital transformation in telecom through strategic investments and partnerships.

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