VodafoneThree
| Company type | Joint venture |
|---|---|
| Industry | Telecommunications |
| Founded | May 31, 2025 |
| Founder | Vodafone Group, CK Hutchison Holdings |
| Headquarters | United Kingdom |
Area served | United Kingdom |
| Products | Mobile network services |
| Owner | Vodafone Group (51%), CK Hutchison Holdings (49%) |
VodafoneThree Holdings Limited is a UK-based telecommunications company established on 31 May 2025 as a joint venture between Vodafone Group, holding 51%, and CK Hutchison Holdings, owning 49%. This partnership resulted from the merger of their respective UK divisions, Vodafone UK and Three UK.
Together, Vodafone and Three rank as the third and fourth largest mobile network providers in the United Kingdom, collectively serving approximately 29 million subscribers. While both brands maintain separate operations, customers will benefit from a unified network within six months following the merger, with integration processes already in progress. Upon full implementation, VodafoneThree is expected to overtake O2 (UK) as the leading mobile network by subscriber numbers.
History
In 2023, Vodafone UK reached an agreement to combine with Three UK, subject to approval from competition regulators. The merged company would cater to 27 million users, becoming the UK's top mobile network, ahead of O2's 24 million and EE's 20 million customers. Vodafone Group secured a majority stake of 51%, while CK Hutchison Holdings (owner of Three UK) retained 49%. Vodafone also obtained an option to acquire Hutchison’s share three years after the merger.
The arrangement includes a commitment to invest £11 billion in 5G technology over the forthcoming decade. Nonetheless, consumer organizations such as Which? expressed concerns that diminished competition might result in increased prices and reduced service standards.
From January to March 2024, the Competition and Markets Authority (CMA) conducted its Phase 1 assessment, cautioning that the merger could weaken competition, drive up costs, and decrease network investment. The CMA allowed a five-day window for proposed remedies before launching a more detailed Phase 2 inquiry.
By December 2024, the CMA authorized the merger with enforceable conditions related to accelerating 5G deployment and protecting consumer pricing. The transaction was finalized on 31 May 2025 alongside the announcement of an £11 billion infrastructure investment plan.
Industry analysts emphasize potential enhancements in 5G coverage and network infrastructure but remain vigilant about possible competition reduction leading to price increases. This consolidation might also affect mobile virtual network operators dependent on Vodafone and Three’s infrastructure, potentially influencing pricing structures and service availability for budget-conscious customers.