UK mobile operator Three says four-player market 'unsustainable'

Hutchison Telecommunications Hong Kong Holdings

17/03/2022 11:51

LONDON, March 17 (Reuters) - Three UK, the British mobile
network operator owned by Hong Kong's CK Hutchison  0001.HK ,
said the UK market needed to consolidate from four to three
players to improve the quality of the country's digital
infrastructure.
    Analysts have said Three UK could potentially combine with
Vodafone's  VOD.L  British operation.
    "Our returns are still below the level of investments and
that's not a sustainable position over the long term," CFO
Darren Purkis told Reuters after the company reported a 4% rise
in 2021 revenue to 2.44 billion pounds ($3.22 billion).
    "If the right opportunity came along, then I think
(Hutchison) would look to take that," he said.
    "I can't speculate on what may or may not happen, but I feel
that the market overall needs to have consolidation."
    

 (Reporting by Paul Sandle; Editing by Kate Holton)
 ((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters
Messaging: paul.sandle.thomsonreuters.com@reuters.net))