3 UK reports £30m loss, seeks Vodafone merger for network improvements and economic aid, pending regulatory review.
3 UK, a subsidiary of CK Hutchison, reported a £30 million ($39 million) first-half operating loss and ongoing negative cash flow, citing the need for a proposed merger with rival Vodafone to fund network improvements and address the situation. The merger would unlock £11 billion for network improvements, creating a best-in-class 5G network in the UK and aiding the nation's economy. However, the deal is under examination by Britain's competition regulator due to concerns it may result in higher prices for consumers.
August 15, 2024
12 Articles