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Vodafone and Three may combine their UK units which were respectively the third and fourth largest mobile network operators in the country, City sources said. Ownership of the joint-venture would be split equally. On account in part of its smaller size, Three's owner, CK Hutchinson, would probably inject a lump sum of cash into the venture. The merger's original date of announcement in May had to be delayed. Activist investor Cevian Capital had been calling for mergers and acquisitions in key markets in order to bolster Vodafone's share price.
