LONDON (dpa-AFX) - Vodafone Group Plc (VOD.L, VOD) has confirmed on Monday that it is in talks with CK Hutchison Holdings Limited on a possible merger of Vodafone UK and Three UK.
By merging their businesses, both parties will gain the necessary scale to boost the rollout of full 5G in the UK and expand broadband connectivity into rural areas.
The proposed new firm would include both companies' British businesses, with Vodafone owning 51 percent, and its partner CK Hutchison owning 49 percent.
'The relative ownership would be achieved through a differential leverage contribution at closing, and no cash consideration will be paid,' Vodafone said in a statement.
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