VodafoneThree Raises UK Cost-Cutting Target to £1 Billion
VodafoneThree plans to increase annual cost savings in the UK to £1 billion by 2032 by reducing its mobile mast network.
The merged mobile operator VodafoneThree has increased its annual cost-cutting target in the United Kingdom to £1 billion by 2032. This updated goal adds £300 million in annual savings to the original £700 million target established following the 2025 merger of Vodafone's UK business and Three UK.
To achieve these savings, the company will reduce its network of mobile masts and towers from approximately 37,000 to 26,000. The company also plans to eliminate operational duplications following its full acquisition of the entity, which included a £4.3 billion buyout of CK Hutchison Group Telecom Holding's 49% stake in July. VodafoneThree stated that these measures will not impact its workforce.
The company aims to reach annual savings of £800 million by 2029-2030 and the full £1 billion by 2031-32. Through this process, the operator is targeting mid-to-high single-digit annual underlying earnings growth through 2032.
