(6 February 2017, London, UK) Three UK has reached an agreement to acquire UK Broadband Limited.
UK Broadband Limited provides broadband access to 15,000 customers in the UK and would become a wholly owned subsidiary of Three UK.
The transaction is subject to the fulfilment of a number of conditions before completion can take place.
Dave Dyson, Chief Executive of Three UK, said: "UK Broadband gives us an opportunity to expand our ambition to provide high quality and great value internet connectivity for UK consumers."
Three UK Press Office
Tel: + 44 (07) 454 959 715
Notes to Editors
UK Broadband Ltd provides broadband access via a combination of licenced spectrum and fibre backhaul.
UK Broadband Ltd will continue to operate as it does currently until the deal is completed.
We expect the transaction to complete mid-year.
Three UK will pay £250 million for UK Broadband Limited upon completion. A deferred £50 million will be made available as a credit toward an MVNO agreement on Three's network.
About Three UK
Three UK is a communications company focused on making the industry better for everyone.
We want to give customers a quality, reliable experience and address the industry issues that frustrate them.
We continue to look at ways of improving the services we offer our customers.
Three UK carries 35% of the UK's mobile data traffic. Our network covers 98% of the UK population.
Three UK is a member of CK Hutchison Holdings Limited, which also has investments in mobile operations in Australia, Austria, Denmark, Hong Kong, Indonesia, Ireland, Italy, Macau, Sri Lanka, Sweden and Vietnam.
Three employs over 5,000 people across its offices in Maidenhead, Glasgow and Reading and its 330 retail stores.
For more information visit www.three.co.uk
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