Three UK has reached an agreement to acquire UK Broadband in a transaction valued at £300 million ($373 million).
UK Broadband Limited provides broadband access to 15,000 customers in the UK and would become a wholly owned subsidiary of Three UK.The transaction is subject to the fulfilment of a number of conditions before completion can take place.
Three is owned by CK Hutchison, the holding company controlled by the Hong Kong billionaire Li Ka-shing. Last year, Three Uk failed to snap up Telefonica's O2 after the deal was blocked by the UK telecoms regulator on competition grounds.
Dave Dyson, CEO, Three UK
UK Broadband gives us an opportunity to expand our ambition to provide high quality and great value internet connectivity for UK consumers.