Vodafone says in talks over a possible combination of Vodafone UK and Three UK

By Kyle Morris

Vodafone Group PLC said Monday that it is in discussions with CK Hutchison Holdings Ltd. in relation to a possible combination of Vodafone and Three in the U.K.

The U.K. telecommunications company /zigman2/quotes/202862751/composite VOD -2.21% /zigman2/quotes/202484985/delayed UK:VOD +0.26% said the potential deal would combine the U.K. businesses, with Vodafone owning 51% and CK Hutchison owning 49%.

By combining its businesses, Vodafone and Three will gain the necessary scale to accelerate the rollout of full 5G in the U.K., Vodafone said, adding it will also expand broadband connectivity to rural communities and small businesses.

There can be no certainty that any transaction between the two companies will ultimately be agreed, it added.

Shares in Vodafone at 1022 GMT were up 2.62 pence, or 2.6%, at 103.74 pence.

Write to Kyle Morris at kyle.morris@dowjones.com

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Vodafone Group PLC ADR

US : U.S.: Nasdaq

$ 8.84

-0.20 -2.21%

Volume: 9.12M

Dec. 7, 2023 4:00p

P/E Ratio

2.24

Dividend Yield

10.67%

Market Cap

$24.62 billion

Rev. per Employee

$458,550

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Vodafone Group PLC

UK : U.K.: London

69.98 p

+0.18 +0.26%

Volume: 7.90M

Dec. 8, 2023 9:07a

P/E Ratio

2.11

Dividend Yield

11.01%

Market Cap

£19.55 billion

Rev. per Employee

£374,230