Vodafone to take full control of UK mobile joint venture with Three

Vodafone Group PLC (LSE:VOD) has agreed to buy out its partner in VodafoneThree for £4.3 billion, taking full ownership of the UK mobile and broadband operator less than a year after the joint venture was created. The FTSE 100 telecoms group said it will use its existing cash resources to acquire the 49% stake held by Hong Kong's CK Hutchison through a share cancellation, valuing the combined business at £13.85 billion.