英国审查Vodafone与长和合并案

Find out more about how we investigated the Vodafone/Three merger.

Annual progress report

29 September 2026: In accordance with paragraph 3 of the Undertakings, VodafoneThree provided the CMA with its Year 1 annual progress report. The CMA has published a non-confidential version of this report.

Annual Progress Report Year 1 (PDF, 232KB) (29.9.26)

Vodafone buyout of CK Hutchison

31 July 2026: On 30 July 2026, Vodafone Group Plc (Vodafone) completed the buyout of CK Hutchison Group Telecom Holdings Limited (CK Hutchison) from VodafoneThree Holdings Limited (formerly Vodafone UK Trading Holdings Limited) (VodafoneThree, or MergeCo) via a cancellation of shares (the Transaction).

As a result of the Transaction, Vodafone is now the sole owner of VodafoneThree. CK Hutchison no longer holds any shares, interests or rights in VodafoneThree and has therefore ceased to exercise control over VodafoneThree.

Clause 2.3 of the Final Undertakings states that the Final Undertakings will apply to CK Hutchison for so long as CK Hutchison exercises control over MergeCo.

Pursuant to clause 2.3, CK Hutchison is therefore no longer bound by the Final Undertakings.

No obligations owed by Vodafone under the Final Undertakings have changed as a result of the Transaction.

The Final Undertakings remain unchanged and in full effect.

Phase 2

Administrative timetable

Referral date: 4 April 2024

Statutory deadline: 7 December 2024

Administrative timetable (PDF, 121KB) (18.11.24)

Case closure

2 June 2025: The CMA accepted final undertakings from the Parties on 28 March 2025. This brings the merger investigation to a close.

The CMA and Ofcom have issued a joint statement regarding their respective roles in monitoring and enforcing the Network Commitment.

Case closure summary (PDF, 115KB) (2.6.25)

Joint statement from the CMA and Ofcom (PDF, 127KB) (2.6.25)

Final undertakings

28 March 2025: The CMA has accepted final undertakings and the reference has now been fully determined.

Notice of acceptance of final undertakings (PDF, 137KB) (28.3.25)

Final undertakings (PDF, 594KB) (28.3.25)

Appointment of monitoring trustee (PDF, 132KB) (3.6.25)

Notice of extension of statutory period to accept final undertakings

17 February 2025: The Inquiry Group has decided to extend by six weeks under section 41A(2) of the Act the period for the discharge of its duty under section 41(2) of the Act, as it considers that there are special reasons to do so. The revised period will therefore end on 10 April 2025.

Notice of extension (PDF, 129KB) (17.2.25)

Notice of proposal to accept final undertakings

17 February 2025: The CMA gives notice of the proposal to accept final undertakings and is inviting comments on the proposed final undertakings by 5pm on 3 March 2025.

Notice of proposal to accept final undertakings (PDF, 134KB) (17.2.25)

Draft final undertakings (PDF, 594KB) (17.2.25)

Final report

5 December 2024: The CMA has published its final report.

Summary of final report (PDF, 223KB) (5.12.24)

Final report (PDF, 10.8MB) (5.12.24)

Appendices and glossary (PDF, 1.6MB) (5.12.24)

Press notice: CMA clears Vodafone / Three merger, subject to legally binding commitments

(5.12.24)

Evidence

The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.

Responses to remedies working paper

Parties’ response to remedies working paper (PDF, 748KB) (15.11.24)

BT’s response to the remedies working paper (PDF. 835KB) (18.11.24)

Currys (iD Mobile) response to the remedies working paper (PDF, 324KB) (15.11.24)

Federation of Communication Services (FCS) response to the remedies working paper (PDF, 166KB) (15.11.24)

Honest Mobile response to the remedies working paper (PDF, 88KB) (15.11.24)

Liberty Global response to the remedies working paper (PDF, 116KB) (15.11.24)

Market Participant A response to the remedies working paper (PDF, 137KB) (15.11.24)

Market Participant B response to the remedies working paper (PDF, 84KB) (15.11.24)

Market Participant C response to the remedies working paper (PDF, 242KB) (15.11.24)

Market Participant D response to the remedies working paper (PDF, 254KB) (18.11.24)

Market Participant E response to the remedies working paper (PDF, 118KB) (18.11.24)

Market Participant F response to the remedies working paper (PDF, 709KB) (20.11.24)

Sky response to the remedies working paper (PDF, 2.5MB) (15.11.24)

Sky supplementary response to the remedies working paper (PDF, 172KB) (26.11.24)

VMO2 response to the remedies working paper (PDF, 220KB) (15.11.24)

VMO2 supplementary response to the remedies working paper (PDF, 191KB) (26.11.24)

Remedies working paper

5 November 2024: The remedies working paper sets out the CMA’s assessment of, and provisional decision on, the appropriate remedy to address the competition concerns identified in the provisional findings.

Deadline to submit responses: now closed

Remedies working paper (PDF, 1.3MB) (5.11.24)

Press release: CMA provisionally finds Vodafone / Three could address competition concerns through network investment and customer protections (5.11.24)

Responses to provisional findings

Parties’ response to the provisional findings (PDF, 4.4MB) (5.11.24)

Alertive response to the provisional findings (PDF, 31KB) (5.11.24)

BT response to the provisional findings (PDF, 394KB) (5.11.24)

Google response to the provisional findings (PDF, 97KB) (5.11.24)

inhealthcare response to the provisional findings (PDF, 34KB) (5.11.24)

Liberty Global response to the provisional findings (PDF, 120KB) (5.11.24)

Market Participant A response to the provisional findings (PDF, 193KB) (5.11.24)

Market Participant B response to the provisional findings (PDF, 250KB) (5.11.24)

Market Participant C response to the provisional findings (PDF. 244KB) (5.11.24)

Microsoft response to the provisional findings (PDF, 90KB) (5.11.24)

Onecom response to the provisional findings (PDF, 30KB) (5.11.24)

Onestream response to the provisional findings (PDF, 49KB) (5.11.24)

Telefonica response to the provisional findings (PDF, 376KB) (5.11.24)

Trinsic response to the provisional findings (PDF, 113KB) (5.11.24)

VMO2 response to the provisional findings (PDF, 281KB) (5.11.24)

Warwick County Council response to the provisional findings (PDF, 259KB) (5.11.24)

Responses to possible remedies

Parties’ response to the notice of possible remedies (PDF, 1.5MB) (30.9.24)

Assembly Research response to the notice of possible remedies (PDF, 523KB) (3.10.24)

Balanced Economy Project response to the notice of possible remedies (PDF, 735 KB) (3.10.24)

BT’s response to the notice of possible remedies (PDF, 488KB) (4.10.24)

Communication Chambers response to the notice of possible remedies (PDF, 313KB) (3.10.24)

Community Fibre response to the notice of possible remedies (PDF, 31KB) (3.10.24)

eir response to notice of possible remedies (PDF, 37KB) (5.11.24)

Enders Analysis response to the notice of possible remedies (PDF, 254KB) (3.10.24)

Honest Mobile response to the notice of possible remedies (PDF, 159KB) (3.10.24)

Market Participant A response to the notice of possible remedies (PDF, 98KB) (3.10.24)

Market Participant B response to the notice of possible remedies (PDF, 267KB) (3.10.24)

Market Participant C response to the notice of possible remedies (PDF, 222KB) (4.10.24)

Market Participant D response to the notice of possible remedies (PDF, 293KB) (4.10.24)

Market Participant D supplementary response to the notice of possible remedies (PDF, 273KB) (5.11.24)

Market Participant E response to the notice of possible remedies (PDF, 354KB) (7.10.24)

Market Participant F response to the notice of possible remedies (PDF, 220KB) (7.10.24)

Market Participant G response to the notice of possible remedies (PDF, 112KB) (7.10.24)

Peter Cramton response to the notice of possible remedies (PDF, 14.2MB) (3.10.24)

Professor Stephen Temple response to the notice of possible remedies (PDF, 153KB) (3.10.24)

Rewheel response to the notice of possible remedies (PDF, 5.4MB) (3.10.24)

Sky response to the notice of possible remedies (PDF, 408 KB) (4.10.24)

Sky supplementary response to the notice of possible remedies (PDF, 463KB) (5.11.24)

Unite the Union response to the notice of possible remedies (PDF, 129KB) (3.10.24)

VMO2 response to the notice of possible remedies (PDF, 292KB) (3.10.24)

Which? response to the notice of possible remedies (PDF, 311KB) (3.10.24)

Provisional findings

13 September 2024: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated joint venture between Vodafone Group Plc and CK Hutchison Holdings Limited concerning Vodafone Limited and Hutchison 3G UK Limited.

Deadline to submit responses: now closed

Provisional findings report (PDF, 4.6MB)

(16.9.24)

Appendices and glossary (PDF, 1.8MB) (16.9.24)

DJS report, customer list survey (PDF, 8.6MB) (16.9.24)

DJS Report, general population survey (PDF, 10.8MB) (16.9.24)

Summary of provisional findings (PDF, 200KB) (13.9.24)

Notice of provisional findings (PDF, 145KB) (13.9.24)

Notice of possible remedies (PDF, 250KB) (13.9.24)

Press notice: CMA sets out provisional view on Vodafone / Three merger (13.9.24)

Other third party submissions

Market Participant C’s response to the parties’ initial submission (PDF, 279KB) (21.8.24)

Unite’s polling submission (PDF, 482KB) (21.8.24)

Notice of extension of statutory period

Notice of extension (118KB) (2.8.24)

Initial submission

Parties’ initial submission (PDF, 1,212KB) (14.6.24)

Responses to the issues statement

BT’s response to the issues statement (PDF, 1184KB) (13.6.24)

BT’s supplemental response to the issues statement (PDF, 177KB) (12.7.24)

Cadent’s response to the issues statement (PDF, 111 KB) (13.6.24)

Market Participant A’s response to the issues statement (PDF, 38KB) (13.6.24)

Market Participant B’s response to the issues statement (PDF, 102KB) (13.6.24)

Market Participant C’s response to the issues statement (PDF, 389KB) (13.6.24)

Communications Chambers’ response to the issues statement (PDF, 108KB) (13.6.24)

Ericsson’s response to the issues statement (PDF, 73KB) (13.6.24)

Professor Stephen Temple’s response to the issues statement (PDF, 354KB) (13.6.24)

Unite’s response to the issues statement (PDF, 130KB) (13.6.24)

Which?’s response to the issues statement (PDF, 467KB) (13.6.24)

Notice of extension of inquiry period

Termination of extension under Section 39(4) (PDF, 104KB) (3.6.24)

Notice of extension under Section 39(4) (PDF, 109KB) (10.5.24)

Issues statement

2 May 2024: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm on Thursday 16 May 2024.

Issues statement (PDF, 240KB) (2.5.24)

Inquiry group appointed

4 April 2024: The CMA has appointed the inquiry group:

Stuart McIntosh (Chair)

Stephen Rose

Ashleye Gunn

Crispin Wright

Terms of reference

4 April 2024: The CMA has referred the anticipated joint venture between Vodafone Group Plc and CK Hutchison Holdings Limited concerning Vodafone Limited and Hutchison 3G UK Limited for an in-depth investigation.

Terms of reference (PDF, 104KB) (4.4.24)

Phase 1

Statutory timetable

Phase 1

Action

22 March 2024

Decision announced

26 January 2024 to 9 February 2024

Invitation to comment

26 January 2024

Launch of merger inquiry

11 October 2023 to 1 November 2023

Preliminary invitation to comment

Reference decision

4 April 2024: The CMA has referred the anticipated joint venture between Vodafone Group Plc and CK Hutchison Holdings Limited concerning Vodafone Limited and Hutchison 3G UK Limited for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Decision to refer (PDF, 109KB) (4.4.24)

Reference unless undertakings accepted

22 March 2024: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Full text decision (PDF, 2,558KB) (29.4.24)

Summary of phase 1 decision (PDF, 161KB) (22.3.24)

Press notice: Vodafone / Three deal could leave consumers and businesses worse off (22.3.24)

Launch of merger inquiry

26 January 2024: The CMA announced the launch of its merger inquiry by notice to the parties.

Commencement notice (PDF, 99KB) (26.1.24 )

Press release: CMA launches formal investigation into Vodafone / Three merger (26.1.24 )

Invitation to comment: now closed

26 January 2024: The CMA has today issued a second invitation to comment, giving all interested third parties a further opportunity to submit views about the impact that the proposed merger could have on competition in the UK. The CMA will take into account all views already submitted as part of its preliminary invitation to comment launched in October 2023 and it is not necessary to re-submit any comments you made previously.

Preliminary invitation to comment: now closed

11 October 2023: The CMA is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party, in advance of the CMA’s formal investigation starting.

Preliminary invitation to comment (PDF, 103KB) (11.10.23)

Press notice: CMA seeks views on Vodafone’s merger with rival network Three (11.10.23)

Contact

general.enquiries@cma.gov.uk