The Vodafone and Three Merger

The Vodafone and Three Merger In December 2024, the Competition and Markets Authority,(CMA) gave conditional approval to a £15 billion merger between Vodafone UK and Three UK. If completed, this would create the UK’s largest mobile network. It is being presented as   a big step forward for innovation, with the potential to expand 5G coverage and improve service. But while the headlines focus on growth and investment, it raises questions about whether this deal will actually deliver long-term value, or just distract from deeper issues within Vodafone. Vodafone says the merger will unlock £11 billion In investment and push 5G coverage to 99% of the UK by 2034 (Vodafone, 2025). They also project over £700 million in annual cost savings by year five. These numbers are ambitious, but synergy estimates in M&A deals ur usually optimistic. As Williams (2025) points out, Vodafone’s current performance has been weak, with slow sales and falling share price. This considers whether the...