3 UK reported a £117m loss in 2023, its first negative EBIT since 2010, and proposed a merger with Vodafone UK.
Three UK reported a £117m loss in 2023, its first negative EBIT since 2010, citing higher operating expenses, increased site numbers, and growing IT expenses. CEO Robert Finnegan again highlighted the benefits of proposed merger with Vodafone UK, arguing that with four UK mobile networks, none can make a decent return and a merger is essential to improve 5G connectivity. The CMA is set to announce if the proposed merger should go to phase 2.
March 21, 2024
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