- Deal between the two rivals would create the UK’s largest mobile firm
- Group would have an estimated value of £15bn
- Three finance boss Darren Purkis confirmed some workers will lose their jobs
Hundreds of British jobs are at risk if a mega-merger between Three UK and Vodafone gets the green light.
A deal between the two rivals would create the UK’s largest mobile firm with an estimated value of £15billion.
But Three UK finance boss Darren Purkis – who will be chief financial officer of the combined group – confirmed that some workers will lose their jobs.
The group also expects to create new roles as the merged company has pledged to invest £11billion in Britain over the next ten years.
That is part of its push to ‘create one of Europe’s most advanced standalone 5G networks’. Purkis told the Mail: ‘It’s too early to say what jobs will go and what jobs will stay but clearly there will be synergies – there will be rationalisation.
Mega-merger: A deal between the two rivals would create the UK’s largest mobile firm with an estimated value of £15billion
‘But there will be job creation through the transaction. The building out of a nationwide 5G network will create thousands of jobs.
‘There will be new jobs created. There will be rationalisation of jobs.’
He added: ‘We don’t know where yet, it’s too early to say in the process. The job rationalisation will be through the UK business.’
Unite The Union has warned that 1,600 roles could be cut if the megamerger gets the go ahead from 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 previously said it is concerned that a merger could push prices up for consumers. It will make a final decision by December 7.
If it gets the go ahead, the combined mobile operator will serve around 28m customers, surpassing EE and Virgin Media O2.
The merger has already been approved under the National Security and Investment Act.
Ministers probed the deal because Three UK is owned by China’s CK Hutchison and Vodafone holds sensitive government contracts.
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