Vodafone, Hutchison unveil UK mobile merger

Vodafone (VOD.L) and CK Hutchison (0001.HK) finally unveiled the merger of their British operations on Wednesday, pledging to create the country’s largest mobile operator to boost competition and invest $14 billion in the country. The details came in a long-awaited announcement after the two companies publicly revealed they were in talks in October. Vodafone will own 51% and Hutchison 49% of the combined group, which will be led by current Vodafone UK boss Ahmed Essam, the companies said. Current Three UK finance chief Darren Purkis will take the same role in the new group. The combined operator will have about 27 million customers, overtaking BT’s (BT.L) EE and VM O2, jointly owned by Telefonica (TEF.MC) and Liberty Global (LBTYA.O). Vodafone, which is currently Britain’s third-biggest mobile operator, and fourth-placed Hutchison will have options which would allow Vodafone to acquire the Hong Kong-based conglomerate’s