Vodafone Group set out its strategy following its merger with Three, pledging £11 billion over ten years to build the UK’s leading 5G standalone network. The company aims to extend 5G standalone access to 99% of the UK population by 2030. It also plans to increase network capacity by 2.5 times by 2034.
Vodafone said it had taken full ownership of the merged business after what it described as a successful first year, and expressed confidence in its growth prospects. It raised its annual cost savings target to £1 billion by fiscal 2032, citing integration benefits.
Management described the combined UK business as one of the most significant growth and value creation opportunities in Vodafone’s portfolio. The company aims to achieve double-digit adjusted free cash flow growth in the medium term, with its UK operations expected to be a key contributor.