Vodafone Group PLC (LSE:VOD) and Virgin Media O2 have announced a new long-term network-sharing agreement which extends the current arrangement for more than a decade.
The plan aims to significantly enhance network coverage, quality, and competition across the UK.
It is subject to the approval of the merger between Vodafone UK and Three UK by the Competition and Markets Authority (CMA), which is anticipated to close by the end of 2024.
Post-merger, Vodafone and Three intend to invest £11 billion in network infrastructure over the next decade.
Ahmed Essam, chief executive of European markets at Vodafone, said: "With this agreement and our planned merger with Three UK, we will transform the mobile experience for over 50 million customers in the UK for the next decade, with significant network improvements including more choice, better quality and greater coverage."
Lutz Schüler, chief executive of Virgin Media O2, added: "This new agreement with Vodafone ensures network choice, performance, coverage and competition is enhanced to the benefit of consumers, businesses and our mobile operator partners across the country."