Branding is displayed for Vodafone at one of its stores in London, Britain, June 14, 2023.
REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Executives from Vodafone (VOD.L) and CK Hutchison's (0001.HK) Three UK unit said their 15 billion pound ($18 billion) merger would benefit Britain's consumers, infrastructure and jobs, as lawmakers scrutinise the planned tie-up.
Vodafone and Three UK have pledged to invest 11 billion pounds to build a 5G network for Britain as part of their bid to secure backing from politicians, unions and competition authorities for the merger announced in June.
They warned that without the deal, Britain's 5G network would continue to lag that of other European nations.
"Neither us nor Vodafone can invest sufficiently to build the type of 5G network that's needed," Three's Chief Technical Officer David Hennessy said.
Persons:
Toby Melville, CK Hutchison's, Nicki Lyons, David Hennessy, Stephen Lerner, Sarah Young, Mark Potter
Organizations:
Vodafone, REUTERS, HK, Trade, VM O2, Telefonica, Liberty Global, Thomson
Locations:
London, Britain