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Mourant Ozannes advises mobile giant Three UK on £300 million move into home broadband market

14/02/2017

Mourant Ozannes acted as BVI legal advisers to Britain's fourth largest mobile group, Three UK, (owned by CK Hutchinson) on its £300,000,000 acquisition of Transvision Investments Limited from Seamless Industries Limited (owned by PCCW Limited).  Completion of the acquisition is subject to UK regulatory approval.  

The deal marks Three UK's first step into the home broadband market, and will give it additional mobile spectrum which can be used for any future launch of 5G services.  Transvision is the parent company of UK Broadband Limited, which delivers broadband services in London through its fixed wireless network, operating under the brand 'Relish'.  UK Broadband's principal assets are its spectrum licences, wireless network and customers.  The purchase price comprises £250,000,000 in cash plus £50,000,000 in wholesale credit on the Three UK's network.  

The Mourant Ozannes team, which consisted of partner Mike Williams and senior associate Ian Montgomery, acted alongside Linklaters, Three UK's English legal advisers.

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