The $19 billion Vodafone-Three mobile merger is approved by British regulators.

• The merger between telecommunication firms Vodafone and Three in the U.K. was approved by Britain's competition regulator, subject to certain conditions.
• The CMA approved the tie-up if both companies pledged to invest billions to expand 5G network in the U.K.

The merger between telecommunication firms Vodafone and Three in the U.K. was approved by Britain's competition regulator, subject to certain conditions.

The CMA has stated that the £15 billion ($19 billion) merger should be permitted if both companies pledge to invest billions to expand a unified 5G network throughout the U.K.

The combined entity will limit certain mobile tariffs and provide predetermined contractual terms to mobile virtual network operators (MVNOs), which are mobile operators that use another company's network.

Last year, Vodafone and CK Hutchison, the owner of the Three U.K. network, announced a transaction to merge their U.K. businesses. The deal, now approved, will give Vodafone a 51% controlling stake and leave CK Hutchison with the minority interest.

The CMA's decision to allow the deal to proceed was made after it opened an antitrust probe in January and announced an in-depth investigation in April. Last month, the competition watchdog outlined a path for the deal to move forward if certain remedies were adopted.

The merger, which will reduce the number of major telecommunications network players from four to three, may result in higher prices or reduced services, causing concern among the regulator.

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