Vodafone completes £4.3 bn buyout of Three, gaining full control of UK’s biggest mobile network

Vodafone has spent £4.3 bn to buy the 49 % share of VodafoneThree held by CK Hutchison Group Telecom Holdings, securing total control of Britain’s largest mobile network. The transaction follows the 2025 merger of Vodafone UK and Three UK, which reduced the market to three operators after approval by the Competition and Markets Authority. Vodafone argues that sole ownership will allow it to implement an £11 bn network upgrade programme and achieve £700 m of yearly cost and capex efficiencies by the 2030 financial year, targets set as conditions of the CMA’s consent.

The company confirmed it will keep the multi-brand approach, maintaining the Three, VOXI, SMARTY and Talkmobile names. Industry commentators said the single-owner structure should streamline decisions and boost investment, though they expect Vodafone to prioritize its own brands. An investor briefing on 8 October will detail the merged entity’s growth plans, while the firm also hinted at beta testing a direct-to-device satellite service in early 2027, pending AST SpaceMobile’s satellite deployment.