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- Vodafone Group Plc (NASDAQ:VOD) and CK Hutchison Holdings Ltd's (OTC:CKHUF) potential U.K. merger would create a wireless giant worth about €16.5 billion (£14.3 billion), analysts said.
- The deal would involve combining Vodafone UK and Three UK, with Vodafone holding 51% and CK Hutchison owning 49% of the new unit likely to bring in more mobile revenue than its main rivals.
- Vodafone U.K. carries an enterprise value of €9.8 billion, and Three U.K. is worth €4.4 billion, while bringing them together would yield some £2 billion ($2.3 billion) in synergies, Bloomberg reports citing New Street Research analysts.
- Also Read: Private Equity Firms Are Flocking To Vodafone's Tower Unit, Valued In The Billions
- Analysts at Oddo BHF SCA put the joint enterprise value at £14.5 billion, the report added.
- But Oddo set the deal's chances of success at just 55%, given strict regulatory scrutiny. The units could divest tower stakes or spectrum as potential remedies.
- New Street said a deal could take more than a year to complete, but it had a "far better" chance of being approved.
- New Street said the main benefit would be combining the two networks of radio antennas. However, this could take a while because long-term contracts with tower companies and other operators bound the companies.
- The U.K. Government rightly sees 5G as transformational for the economy and society and critical to the country becoming more competitive in an increasingly digital world.
- Price Action: VOD shares traded higher by 2.02% at $12.10 in the premarket on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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