Three drops £250m on UK Broadband

Adds 15,000 customers, equivalent to one-tenth of Croydon

Man counts pounds and pence. Photo by Shutterstock

After being smote by regulators in its attempt to buy O2 for £10.25bn, Three has snapped up UK Broadband for a cool £250m instead.

UK Broadband provides broadband access to 15,000 customers in the UK and under the deal will become a wholly owned subsidiary of Three UK.

Dave Dyson, chief exec 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.”

Last year the owner of Three UK, Hong Kong-based CK Hutchison, was told by European regulators it could not buy Telefonica's O2 on competition grounds.

The transaction is subject to the fulfilment of a number of conditions before completion can take place.

Three UK employs over 5,000 people across its offices in Maidenhead, Glasgow and Reading and its 330 retail stores. ®

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