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UK: Three chairman promises five-year price freeze after O2 merger

By  |  February 4, 2016

Three chairman Canning Fok pledges a price freeze and a £5bn network investment if the acquisition of O2 is allowed to go ahead.

Canning Fok, co-managing director of Three parent CK Hutchison and chairman of Three, has issued three pledges to ease fears over the impact of its proposed acquisition of O2 on the competitiveness of the UK market and to butter up the European Commission in the hope of a favourable outcome.

In an open letter, Fok said the combined Three-O2 mobile network would freeze prices for consumers of voice minutes, texts and data for five years following completion, promising that any cost-efficiencies achieved post-acquisition would be passed on to customers, and like-for-like bills would go down.

Full content: The Week

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