Three becomes one as Vodafone buys out merger partner

“A full buyout by Vodafone was always on the cards but the agreement has come sooner than expected, with the joint venture only just into its second year.”

Vodafone paid CK Hutchison £4.3 billion for the half of VodafoneThree it did not already own. The CMA cleared the original merger in 2025 on a promise of £11 billion in network investment and £700 million of annual savings by 2030. Four UK mobile operators became three, and now the largest of the three answers to one owner. The spending commitment is still on paper. Nobody has explained who checks it.