Vodafone Group Plc (VOD,VOD.L,VODE.DE), a telecommunications company, on Tuesday announced an agreement to acquire the stake of CK Hutchison Group Telecom Holding Ltd. in VodafoneThree.
The acquisition will be executed for 4.3 billion pounds via a share cancellation.
The transaction will result in Vodafone taking full ownership of the joint venture.
The transaction values VodafoneThree at an implied enterprise value of 13.85 billion pounds. Vodafone will fund the transaction through existing cash resources, and expects the deal to increase its pro forma net debt to Adjusted EBITDAaL by 0.4x.
Vodafone currently owns 51% of VodafoneThree, while CKHGT holds the remaining 49%.
The deal is expected to close in the second half of 2026.
Following completion, Vodafone will become the sole owner of VodafoneThree, with no changes to its multi-brand strategy or leadership team.
The transaction is expected to support Vodafone's strategy to expand and enhance its 5G network and digital infrastructure in the UK.
VodafoneThree was formed through the merger of Vodafone UK and Three UK, which was completed on May 31, 2025. It is the UK's largest mobile operator and a fast-growing broadband provider.
The company expects to achieve GBP 700 million in annual cost and capital expenditure synergies by fiscal year 2030.
On Monday, Vodafone closed trading 1.24% higbher at GBp 118.70 on the London Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.