According to the Financial Times, CK Hutchison and Liberty Global’s talks are advanced and would further both their strategic aims
Liberty Global is in advanced talks to acquire Three Ireland from the Hong Kong-headquartered conglomerate CK Hutchison, the Financial Times [subscription needed] reports.
Liberty Global operates an MVNO in the Irish republic, under the Virgin Mobile brand, alongside its broadband infrastructure. Some analysts reckon Three Ireland could be worth up to €1.5 billion.
The move would support Liberty Global’s preferred European business model of converged operations that combine mobile and fixed communications, as it does in the UK with Virgin Media O2, which it jointly owns with Telefonica.
It also jointly owns VodafoneZiggo in the Netherlands which the partners set up in 2016. Liberty Global wanted to buy Vodafone out in March 2025, but they were unable to agree on a valuation. It combines Vodafone’s mobile services with Ziggo’s fixed services plus bundled deals, smart home offers, and entertainment like Ziggo Sport and the Ziggo Dome for consumers and businesses.
CK Hutchison continues European exit
The sale of Three Ireland to Liberty Global would also advance CK Hutchison’s plans to gradually exit its European telecoms businesses, which in total serve about 60 million customers. Its properties include Italian operator WindTre and a 49% holding in UK operator VodafoneThree, which was formed by merger last year.
Vodafone has the right to buy Three’s share of the UK entity three years after June 2025, so long as the company’s value reaches £16.5 billion. Another option would be for Three to float its holding.
CK Hutchison has also had some unsuccessful attempts to offload or reshape its telecoms businesses in Sweden and Denmark.
