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 said the potential deal would combine the U.K. businesses, with Vodafone owning 51% and CK Hutchison owning 49%.

By combining our 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

 

(END) Dow Jones Newswires

October 03, 2022 06:45 ET (10:45 GMT)

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