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

By Reuters

LONDON – Three UK, the British mobile network operator owned by Hong Kong’s CK Hutchison, 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 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.”