Vodafone Group has completed the buyout of CK Hutchison Group Telecom Holding Limited’s 49 per cent stake in VodafoneThree for £4.3 billion (€4.9bn). As a result, Vodafone now owns 100 per cent of VodafoneThree, the UK’s largest mobile operator and one of the fastest growing broadband providers.

The Transaction has been fully funded from existing Vodafone Group cash resources.

The company says that full ownership of VodafoneThree will enable it to move at an even faster pace and capture the significant benefits created through its £11 billion network investment plan and targeted synergies, including £700 million of annual cost and capital expenditure synergies by FY30.

Margherita Della Valle, Chief Executive of Vodafone Group, said: “With full ownership and control, we’ll have the ability to move faster in the next phase of building one of Europe’s leading networks. This best-in-class infrastructure will deliver better connectivity for our customers up and down the country, help drive the UK’s digital economy, and deliver long-term value for our shareholders.”

Consistent with expectations at announcement, Vodafone Group’s pro forma net debt to Adjusted EBITDAaL is expected to increase by 0.4x.

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Categories: Articles, Broadband, Business, M&A, MNO, Mobile, Telco

Tags: Margherita Della Valle, Vodafone, vodafonethree