A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance.
Adrian Dennis | AFP | Getty Images
Britain’s competition regulator on Thursday approved the merger between telecommunication firms Vodafone and Three in the U.K., subject to certain conditions.
The Competition and Markets Authority (CMA) said the £15 billion ($19 billion) tie-up should be allowed to proceed if both companies sign “binding commitments to invest billions” to roll out a combined 5G network across the U.K.
The combined entity would also be required to cap certain mobile tariffs and “offer preset contractual terms” to so-called mobile virtual network operators (MVNOs) — mobile operators that piggyback off of another company’s network.
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