Vodafone Group and CK Hutchison announce merger of UK telecom business

Vodafone Group Plc and CK Hutchison Group Telecom Holdings Limited (CKHGT) have entered into binding agreements in relation to a combination of their UK telecommunication businesses, respectively Vodafone UK and Three UK.
Vodafone will own 51 per cent of the combined business and CKHGT will hold 49 per cent.
As part of the merger, no cash consideration will be paid, and Vodafone UK and Three UK businesses will contribute differential debt amounts at completion to achieve MergeCo ownership of 51:49 between Vodafone and CKHGT.