Business
THE first phase of a probe into the merger of telecom major Vodafone Group’s UK businesses and Three UK, a privately held telecom firm, has been launched.
Britain’s Competition and Markets Authority (CMA) said on Friday.
The deal, which was entered into in 2023, would potentially combine both the companies’ telecom operations under one single network.
The competition regulator has 40 working days to assess the deal and decide whether the deal will reduce the competition and if a more in-depth investigation is required.
“This deal would bring together two of the major players in the UK telecommunications market, which is critical to millions of everyday customers, businesses and the wider economy.
“The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps,’’ said Sarah Cardell, chief executive of the CMA.
Currently, Vodafone shares are trading at £0.67 ($0.87), up to 1.03 per cent in London. (dpa/NAN)
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Tags: Britain’s Competition and Markets Authority Sarah Cardell Vodafone Group
