- Vodafone Group PLC (NASDAQ:VOD) and CK Hutchison Holdings Ltd (OTC:CKHUF) are said to be in the final stages of agreeing to combine their U.K. businesses.
- The announcement is expected to come this Friday or by early next week, Reuters Reported.
- The terms of the deal remain the same as announced last October.
- The deal would involve combining Vodafone UK and Three UK, with Vodafone holding 51% and CK Hutchison owning 49% of the new unit.
- The deal values the equity of the combined group at £9 billion with £6 billion of debt, taking its enterprise value to £15 billion.
- The report added that the deal would create U.K.’s largest mobile operator, with about 27 million customers, and can face strong scrutiny from regulators.
- Last month, Vodafone reported FY23 revenue growth of 0.3% YoY to $49.05 billion, missing the consensus of $49.73 billion, and adjusted EPS of $0.12, missing the consensus of $1.15.
- Vodafone generated $5.2 billion in free cash flow.
- Price Action: VOD shares are trading higher by 1.25% at $9.70 premarket on the last check Wednesday.
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