Vodafone confirms that its planned merger with Three UK, announced on June 14, 2023, will no longer require shareholder approval under the new UK Listing Rules effective July 29, 2024. Upon completion, Vodafone will own 51% of the combined business (MergeCo), while CK Hutchison's subsidiary CKHGT will hold 49%. The transaction will be consolidated in Vodafone's financial statements.The merger is expected to have a neutral impact on Vodafone's Net debt to Adjusted EBITDAaL ratio and become accretive to Adjusted free cash flow from the fourth full year. The Board confirms the transaction serves the best interests of security holders, though noting potential risks including regulatory approval requirements and customary warranty obligations.As of June 30, 2024, Three UK reported gross assets of £8.6 billion and recorded a loss before tax of £439 million for the year ended December 31, 2023. Vodafone will provide initial debt financing for the merger, with further financial and non-financial information to be announced closer to completion.

Vodafone confirms that its planned merger with Three UK, announced on June 14, 2023, will no longer require shareholder approval under the new UK Listing Rules effective July 29, 2024. Upon completion, Vodafone will own 51% of the combined business (MergeCo), while CK Hutchison's subsidiary CKHGT will hold 49%. The transaction will be consolidated in Vodafone's financial statements.The merger is expected to have a neutral impact on Vodafone's Net debt to Adjusted EBITDAaL ratio and become accretive to Adjusted free cash flow from the fourth full year. The Board confirms the transaction serves the best interests of security holders, though noting potential risks including regulatory approval requirements and customary warranty obligations.As of June 30, 2024, Three UK reported gross assets of £8.6 billion and recorded a loss before tax of £439 million for the year ended December 31, 2023. Vodafone will provide initial debt financing for the merger, with further financial and non-financial information to be announced closer to completion.