Hutchison’s Three UK says operating loss shows need for Vodafone merger

LONDON: CK Hutchison’s Three UK reported a first-half operating loss of 30 million pounds ($39 million) and continued negative cash flow, which it said showed the need for it to merge with larger rival Vodafone to invest in a better combined network.

Britain’s competition regulator is scrutinising the proposed tie up between the country’s third and fourth largest mobile networks after it raised concerns that the $19 billion deal announced last year could result in higher prices for consumers. It will report in December.