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Mobile operator Vodafone UK (VodafoneThree) has today issued an update to confirm that, after taking full control of Three UK and making progress on their network merger, they’ve been able to upgrade their outlook and now expect to make cost savings of £0.8bn by fiscal 2030 (up by c.£100m) and then £1bn by 2032.
VodafoneThree originally established a post-merger plan to invest £11bn into upgrading their 5G mobile infrastructure and coverage over the next decade (here, here and here). As part of that they committed to reach more than 99.96% of the UK’s population with their 5G Standalone (5GSA / 5G+) network by 2034 (99% by 2030) and to push fixed wireless access (mobile home broadband) to 82% of households by 2030, among other things.
Apparently all this has been going a bit better than expected and they’ve made “made strong progress against our cost targets … This is driven by further savings as our network build completes and we benefit further from network rationalisation as well as the benefits of full Group ownership, which enable us to move at an even faster pace. In addition, we see significant potential to drive additional revenue synergies from the merger,” said the update.