Slaughter and May advised Vodafone Group Plc (Vodafone) on the completion of its joint venture with CK Hutchison Group Telecom Holdings Limited (CKHGT) to form VodafoneThree, a combination of their UK telecommunication businesses.
VodafoneThree is owned 51% by Vodafone and 49% by CKHGT. VodafoneThree will invest £11 billion over the next 10 years, creating one of Europe’s most advanced 5G networks.
Slaughter and May previously advised on the framework agreements to form the joint venture, and the UK and EU competition law aspects and the UK national security aspects of the joint venture (which included an in-depth Phase 2 investigation that concluded with the Competition and Markets Authority clearing the transaction based on certain remedies offered by the parties).