VodafoneThree Accelerates Cost Cutting to Reach £1bn
The company will cut duplicate network costs and says the savings will not affect its workforce.
- On Thursday, VodafoneThree announced plans to increase annual cost savings to £1 billion by 2031-2032, building on the firm's nearly £14 billion valuation following its 2025 merger with Three UK.
- Integrating the brands involves sharing 5G networks, with management planning to reduce the combined mobile phone mast infrastructure from around 37,000 to about 26,000 sites.
- Following the buyout of the 49% stake held by CK Hutchison Group Telecom Holding for £4.3 billion in July, Vodafone is now stripping out costs caused by unnecessary duplication.
- Expressing confidence in growth, Vodafone Group Chief Executive Margherita Della Valle noted the company aims to more than triple operating free cash flow at VodafoneThree by 2031-2032.
- Serving about 27 million customers, VodafoneThree continues as the UK's largest mobile operator, with up to 50 million people now having access to its 5G speeds.
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Vodafone Targets £1B Synergies as VodafoneThree Accelerates U.K. 5G Rollout
Vodafone Group (NASDAQ:VOD) outlined plans for its VodafoneThree U.K. business to expand 5G Standalone coverage, grow in consumer and business services, and increase annual cost and capital-expenditure synergies to £1 billion by fiscal 2032. At an investor briefing in London, Vodafone executives sa
Vodafone announced a review of its cost-cutting projections for the British division VodafoneThree, positioning the operation as one of the main focus for the group's medium-term ambitions. Exclusive material for subscribers. To have full access, access the link of the subject and register.
VodafoneThree raises cost-cutting target to £1bn after merger
Vodafone has hiked its UK cost-saving target to £1bn a year as the telecoms giant looks to boost profits following its merger with Three. The FTSE 100 company said on Thursday it now expects VodafoneThree to deliver £1bn in annual savings by 2032, up from its previous target of £700m by 2030. The upgraded target [...]
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