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Vodafone in talks to merge UK arm with CK Hutchison's Three

Vodafone declined to comment. Three UK did not immediately respond to Reuters' request for comment outside of business hours.

May 12, 2022 / 06:45 AM IST
Vodafone Idea: The telecom operator posted consolidated loss of Rs 6,563.1 crore in quarter ended March 2022, which narrowed compared to loss of Rs 7,230.9 crore in previous quarter, supported by higher operating income and ARPU. Revenue during the quarter at Rs 10,239.50 crore increased by 5.4 percent QoQ aided by tariff hikes taken in November 2021, with 24.38 crore subscribers as of March 2022. EBITDA grew by 22 percent QoQ to Rs 4,649 crore and margin improved by 610 bps QoQ to 45.4 percent in Q4FY22 with average revenue per user rising by Rs 9 sequentially to Rs 124 during the quarter.

Vodafone Idea: The telecom operator posted consolidated loss of Rs 6,563.1 crore in quarter ended March 2022, which narrowed compared to loss of Rs 7,230.9 crore in previous quarter, supported by higher operating income and ARPU. Revenue during the quarter at Rs 10,239.50 crore increased by 5.4 percent QoQ aided by tariff hikes taken in November 2021, with 24.38 crore subscribers as of March 2022. EBITDA grew by 22 percent QoQ to Rs 4,649 crore and margin improved by 610 bps QoQ to 45.4 percent in Q4FY22 with average revenue per user rising by Rs 9 sequentially to Rs 124 during the quarter.


Vodafone Group Plc is in talks to merge its UK operations with Three UK, which is owned by Hong Kong-based CK Hutchison Holdings Ltd, the Financial Times reported on Wednesday, citing people with direct knowledge of the matter.

The exact structure under discussion could not be learnt, the report said.


Vodafone declined to comment. Three UK did not immediately respond to Reuters' request for comment outside of business hours.


The move comes as Vodafone faces pressure from Europe's largest activist fund Cevian Capital to simplify its portfolio, enhance its strategy in key markets and boost returns.

The telecom group's Chief Executive Nick Read had said in February the company was pursuing mergers with rivals in multiple European markets, spurred on by more favourable signals from regulators who have realised the value of network investment during the COVID-19 pandemic.



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Reuters
first published: May 12, 2022 06:45 am
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