British consumers might be forgiven for wondering what problem the proposed £10bn merger of the mobile providers O2 and Three is designed to solve.
Plans announced last week to weld together the country’s second and fourth largest networks certainly threaten to create an industry leader of impressive scale. With 32m customers, it would be Britain’s largest, putting Vodafone and BT — fresh from announcing the purchase of EE from T-Mobile of Germany and France’s Orange — firmly in the shade.
The deal may also allow the pair to achieve substantial savings. Initial estimates suggest they could cut expenses by £400m per annum, equivalent to about 50 per cent of Three’s running costs.
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