VodafoneThree raises annual cost-cutting target to £1bn by 2032 after Vodafone completes full merger

From the Newshound archive · first published 8 October 2026.

VodafoneThree has raised its annual savings target from £700m to £1bn after Vodafone completed a £4.3bn buyout of CK Hutchison's remaining 49 per cent stake, securing full control of Britain's largest mobile operator. Chief executive Margherita Della Valle said a strong start had given the group greater confidence in the merger's financial potential. The upgraded goal sits within an £11bn investment programme aimed at rolling out a next-generation 5G network across the UK over the coming decade.

The extra £300m in savings will come from consolidating and simplifying mobile networks, a process made possible by Vodafone's full ownership.

Vodafone also set targets for mid-to-high single-digit annual earnings growth and has committed to more than tripling operating free cash flow by 2032.

The company says it now has the UK's largest mobile customer base and has recorded record-low customer churn since the merger completed.