(Il Sole 24 Ore Radiocor) - Milano, 5 mag - The UK telecommunications group Vodafone said that it has reached an agreement for the buyout of CK Hutchison Group Telecom Holding Limited (CKHGT) from the VodafoneThree joint venture for 4.3 billion pounds (4.9 billion euros) via a cancellation of shares.

Following completion of the transaction, Vodafone will become the sole owner of VodafoneThree.

"Since the merger of Vodafone UK and Three UK last year, significant progress has been made in integrating the two businesses. This has led to considerable improvements in network quality, which have been delivered ahead of schedule, as we look to build the UK's best 5G network," Vodafone said.

Vodafone will fund VodafoneThree's cancellation of CKHGT's shares in VodafoneThree in cash and the transaction is expected to increase Vodafone pro forma net debt to adjusted EBITDAaL by 0.4 times.

CKHGT has a 49% shareholding in VodafoneThree and Vodafone.

owns the remaining 51%.

(RADIOCOR) 05-05-26 08:55:26 (0189) 5 NNNN