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(Reuters) – Vodafone, CK Hutchison and their UK telecoms companies are nearing an agreement to combine them for 15 billion pounds ($19 billion), which would make the UK’s largest mobile operator. The Financial Times reported this on Thursday.
According to the FT, citing three sources familiar with the deal, the equity of combined group will be valued at approximately 9 billion pounds with a debt of about 6 billion pounds.
Reports said that the agreement should be announced this month.
The newspaper also added that the combination could allow Hong Kong’s CK Hutchison, to withdraw from UK telecoms. The newspaper added that the agreement was not finalized, and things could still change.
Reuters did not receive a response from Vodafone or CK Hutchison. ($1 = 0.7948 pounds)
(Reporting and editing by Savio D’Souza in Bengaluru, Akriti Sharma)