Vodafone Group, a British multinational telecommunications company, and CK Hutchison Group, a Hong Kong–based and Cayman Islands–registered multinational conglomerate corporation, agreed to merge their UK telecommunication businesses, in a £15bn deal. "The merger is great for customers, great for the country and great for competition. It's transformative as it will create a best-in-class - indeed best in Europe - 5G network, offering customers a superior experience. As a country, the UK will benefit from the creation of a sustainable, strongly competitive third scaled operator - with a clear £11bn network investment plan - driving growth, employment and innovation. For Vodafone, this transaction is a game changer in our home market. This is a vote of confidence in the UK and its ambitions to be a centre for future technology," Margherita Della Valle, Vodafone Group CEO.