CK Hutchison to exit VodafoneThree venture in £4.3bn deal

• Vodafone is set to acquire full ownership of its VodafoneThree business in the UK by buying out partner CK Hutchison in a £4.3 billion deal.
• The transaction values VodafoneThree, which became the UK's largest mobile operator after its merger last year, at £13.85 billion including debts.
• Vodafone aims to roll out one of Europe's most advanced 5G networks and achieve around £700 million in annual cost efficiencies by 2030.
• The deal is subject to regulatory approval, including under the UK National Security and Investment Act, and is anticipated to conclude in the second half of this year.
• CK Hutchison described the transaction as a “win-win”, generating substantial cash proceeds and crystallising solid value from their investment.

IN FULL

Vodafone takes full ownership of VodafoneThree venture in £4.3bn deal