Merger: Vodafone’s £15bn tie-up with Three UK has been given the green light
Vodafone has been told to set up a national security committee to ‘oversee sensitive work’ after its merger with Three UK.
The £15billion deal has been backed by ministers after a review under national security laws.
The review was triggered by concerns over Three’s links to China, given it is owned by Hong Kong group CK Hutchison.
Deputy prime minister Oliver Dowden said the firms must create a special committee to update the Government about sensitive work.
The venture will be 51 per cent-owned by Vodafone and 49 per cent by CK Hutchison, which said it was ‘pleased’ by the green light.
However, the tie-up still needs approval from competition regulators.
Last month the Competition and Markets Authority launched a probe into the merger after a formal investigation in January.
There are concerns that a tie-up could lead to higher prices for all UK customers.
If the merger goes ahead, the combined group will have more than 27m subscribers.
The two firms say a deal would result in an additional investment of £11billion in the UK.