AcquisitionsMay 5, 2026, 07:47 AM
Vodafone to take full ownership of VodafoneThree for £4.3B
AI Summary
Vodafone Group Plc has announced an agreement to acquire CK Hutchison Group Telecom Holding Limited's 49% stake in the VodafoneThree joint venture for £4.3 billion (€4.9 billion). This transaction will make Vodafone the sole owner of VodafoneThree, the UK's largest mobile operator. The company expects to realize £700 million in annual cost and capital expenditure synergies by FY30 and aims to accelerate the transformation of the UK's digital infrastructure. The completion is subject to regulatory approvals and is anticipated in the second half of 2026.
Key Highlights
- Vodafone to acquire CK Hutchison Group Telecom Holding Limited's 49% stake in VodafoneThree for £4.3 billion (€4.9 billion).
- Vodafone will become the sole owner of VodafoneThree, the UK's largest mobile operator.
- The transaction is expected to generate £700 million in annual cost and capital expenditure synergies by FY30.
- The buyout is anticipated to increase Vodafone Group's pro forma net debt to Adjusted EBITDAaL by 0.4x.
- Completion is subject to UK National Security and Investment Act approvals and is expected in H2 2026.
- The transaction implies an enterprise value for VodafoneThree of £13.85 billion.
- VodafoneThree's net debt was £5.08 billion as of March 31, 2026.