EE and O2 being the other two - it will be scrutinized closely by the Competition and Markets Authority. Given that the deal would reduce the number of mobile operators in the U.K. pledged to invest 11 billion pounds in Britain over the next 10 years to create one of Europe’s biggest 5G networks, promising that every school and hospital in the country will have access to standalone 5G by 2030. The deal comes a month after Vodafone announced that it was laying off 11,000 workers globally as part of a major revamp aimed at cutting costs and boosting flagging financial performance. The groups said the merger will help them compete with their rivals on 5G technology, which provides much faster connectivity and greater capacity that will potentially allow thousands of devices to be connected at the same time within a relatively small area. Vodafone will have an option to buy out CK Hutchison’s stake after three years should the combined entity have a value of at least 16.5 billion pounds ($21 billion). Vodafone will account for 51% of the merged firm, with CK Hutchison owning the rest. But the deal is likely to face stiff regulatory scrutiny because it will reduce the number of mobile networks down to three. and Three U.K., which is owned by Hong Kong’s CK Hutchison, would create Britain’s biggest mobile phone player, with a combined 27 million customers. LONDON (AP) - Two of the U.K.’s four mobile phone operators agreed Wednesday to merge their businesses to capitalize on the rollout of next-generation 5G wireless technology in the country.
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