Three UK revealed its quarterly financial performance this week, showcasing an increase in revenue and margin while reiterating its intent for a potential merger with competitor Vodafone.
The telecommunications company disclosed a notable 9% surge in both revenue, climbing to £664 million, and margin, reaching £424 million. This growth was attributed in part to a rise in its customer base, with active customers increasing by 3% overall and active contract customers by 6%.
Matthew Riley, the CEO of Daisy Group, a leading UK IT services company, is reportedly on the brink of finalizing a merger deal with Wavenet, a communication and technology solutions provider based in the UK. According to sources disclosed to Sky News, the merger is in its final stages.
A monumental step for Saudi Arabia’s Vision 2030 appears on the horizon as the Public Investment Fund and stc group plan to merge TAWAL and Golden Lattice Investment Company (GLIC). This partnership, expected to have a value of $5.85 billion and annual revenues near $1.3 billion, could be a game-changer in the telecommunications infrastructure domain.
Bharti Airtel and Dialog Axiata have unveiled a fusion plan for their operations in Sri Lanka. The anticipated benefits of this combination include tapping into economies of scale, reducing infrastructure redundancy, drawing from technology and capital synergies, and fostering broadband connectivity advancements.
The recent merger of Orange Spain and MasMovil, forming the telecoms behemoth ‘MasOrange,’ has set the Spanish telecommunications scene abuzz. This union, approved by the European Commission, woos Telefonica – a potential powerhouse partner, disrupts EU regulations on allocated spectrum, and incites the emergence of Digi as a significant player.
The UK’s Competition and Markets Authority (CMA) is ready to plunge into an in-depth probe into a possible £15 billion merger between telecommunications giants Vodafone UK and Three UK, a decision that could reshape the mobile market landscape. This action, while not surprising, showcases how the regulator continues to question the ambiguous benefits claimed by the companies regarding impact on competition and investment.
Orange and MásMóvil have officially sealed their merger deal, marking a significant development in Spain’s telecom sector. The joint venture, which holds equal shares from both companies, is poised to become a dominant force in the market. Despite the completion of the merger, the new entity is still without a definitive name, leaving industry observers speculating on its future identity.
Three UK’s latest financial report reveals a concerning swing to a loss, underscoring the company’s pressing need for a merger with Vodafone, as articulated by its chief executive. Despite experiencing growth in both revenue and customer base last year, the mobile operator faced increased capital spending and operating costs, leading to its first earnings loss in over a decade. This financial downturn has been a pivotal factor in advocating for the proposed merger with Vodafone, according to Three UK’s CEO, Robert Finnegan.
In a significant move for Spain’s telecom sector, the Spanish government has officially sanctioned the merger between Orange and MasMovil, following the European Union’s approval last month. This decision paves the way for the creation of Spain’s largest telecom operator, marking the culmination of a deal valued at approximately €18.6 billion.
Breaking new ground in the European telecoms sector, France’s Orange and Spain’s MásMóvil have won European Commission approval for their joint venture with a proviso. A stipulation of the deal instances Romania’s Digi – Spain’s largest MVNO – to acquire spectrum from MásMóvil. With this move, Digi could transform into the fourth mobile operator for the Spanish market.
