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- The deal between the two rivals would create the UK’s largest mobile phone company.
- The group is estimated to be worth £15bn.
- Three finance chiefs, Darren Purkis, confirmed that some workers will lose their jobs
Hundreds of British jobs are at risk if a mega-merger between Three UK and Vodafone is given the green light.
A deal between the two rivals would create the UK’s largest mobile phone company, worth an estimated £15bn.
But Three UK finance chief Darren Purkis, who will be chief financial officer of the combined group, confirmed some workers will lose their jobs.
The group also hopes to create new roles as the merged company has pledged to invest £11bn in Britain over the next ten years.
This is part of its effort to “create one of the most advanced standalone 5G networks in Europe”. Purkis told the Mail: “It’s too early to say which jobs will go and which will stay, but it’s clear there will be synergies, there will be rationalisation.”
Mega-merger: A deal between the two rivals would create the UK’s biggest mobile phone company with an estimated value of £15bn
“But the transaction will create jobs. Building a nationwide 5G network will create thousands of jobs.
“New jobs will be created and there will be a rationalisation of jobs.”
He added: “We don’t know where yet, it’s too early to say in this process. The rationalisation of jobs will be done through UK companies.”
Unite The Union has warned that 1,600 jobs could be cut if the mega-merger is given the green light by regulators. The deal, which would reduce the number of operators in the UK from four to three, is being investigated by the competition watchdog.
The Competition and Markets Authority has already expressed concern that a merger could lead to higher prices for consumers. It will make a final decision on 7 December.
If approved, the combined mobile operator will serve around 28 million customers, surpassing EE and Virgin Media O2.
The merger has already been approved under the National Security and Investment Law.
Ministers investigated the deal because Three UK is owned by China’s CK Hutchison and Vodafone has sensitive government contracts.
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