Vodafone/Three switcheroo: would the introduction of a different fourth player get the merger through?
If Vodafone and Three merge, it will be the first time that the UK telecoms market would have less than four network operators since Orange and One2One entered the market in the early 1990s. The CMA would nowadays be expected to block 4-to-3 mergers, especially where there is little chance of a new market entrant,…