Vodafone, CK Hutchison in final stages of agreeing UK merger - report
Sharecast
Published Jun 07, 2023 14:21
Vodafone, CK Hutchison in final stages of agreeing UK merger - report
Sharecast - According to Reuters, the structure of the agreed deal is in line with Vodafone (LON:VOD)'s announcement in October, with the British group owning 51% and Hutchison owning 49%, achieved by adjusting the ownership of debt rather than exchanging cash.
Including debt the deal could be valued at around £15bn, according to analysts.
The tie-up will create Britain's biggest mobile operator with about 27 million customers, overtaking BT (LON:BT)'s EE and VM O2, owned by Telefonica (BME:TEF) and Liberty Global (NASDAQ:LBTYA).
At 0925 BST, Vodafone shares were up 2.9% at 79.17p.
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