Three CEO Calls for Merger Approval After Criticizing UK Mobile Signal

The CEO of mobile phone provider Three, Mr. Finnegan, has expressed strong dissatisfaction with the UK's 5G speeds and availability, labeling them as "abysmal." He noted that despite reducing capital expenditure, the company continues to incur losses due to rising inflationary costs associated with network operations. Finnegan emphasized that the proposed merger with Vodafone could unlock £11 billion in investment for digital infrastructure, which he believes would enhance the UK's 5G network and contribute positively to the economy. Recent research highlighted Denmark as the leader in mobile download speeds, with the UK ranking poorly, only outperforming Hungary, the Czech Republic, and Poland. In response to security concerns, UK ministers have mandated the removal of certain Huawei equipment already in use, further complicating the landscape for mobile operators. The Competition and Markets Authority (CMA) is currently investigating the merger between Three and Vodafone, amid fears that it could lead to higher prices and diminished service quality for consumers. The CMA has also raised concerns that the merger might hinder smaller virtual operators, such as Sky Mobile and Lebara, from securing favorable deals, as it would reduce the number of available network operators. Despite these concerns, Three and Vodafone have defended their merger plans, arguing that it would enhance network investment and improve their competitive stance against major rivals like BT/EE and Virgin Media-O2. Three's recent half-year results showed a 9% revenue increase to £1.335 billion, although operating expenses rose by 5% due to network expansion and inflation.