Vodafone, Three Deal to Create Biggest UK Mobile Network (1)

Vodafone Group Plc and CK Hutchison Holdings Ltd. agreed to combine their UK mobile businesses in a deal that will create the biggest wireless company in the country if it passes muster with regulators.

Vodafone will own 51% of the new company and Hong Kong billionaire Li Ka-shing’s CK Hutchison will control the remainder, the companies said in a statement on Wednesday. Vodafone will have the right to acquire the entire merged business after three years, if it reaches a value of at least £16.5 billion ($20.9 billion) including debt. The companies expect to close the deal before the end ...