Vodafone and Three's merger, valued at £15 billion, has been given the go-ahead by the UK's Competition and Markets Authority (CMA). This decision comes after both companies made commitments to invest in expanding their networks.

The merger combines the third- and fourth-largest mobile operators in the UK and addresses concerns about potential price increases and the impact on smaller competitors. As part of the agreement, Vodafone and Three will impose limits on certain mobile tariffs and offer specific contractual terms to mobile virtual network operators that use their networks.

The CMA's approval of the deal, based on increased investment rather than divestitures, is a departure from its usual approach. The European Commission's leading merger official expressed surprise at the CMA's decision to approve the merger under these conditions.