UK mobile provider Three has reached agreement to acquire broadband provider for £250m

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Three UK has reached an agreement to buy UK Broadband Limited for £250m.

The mobile firm, which regulators last year blocked from buying rival O2 for £10.2bn, will snap up the business, which operates as Relish and provides broadband for 15,000 customers in the UK.

There is already a link between the firms. Three UK is part of Li Ka-shing’s CK Hutchison empire, while UK Broadband is part of his son Richard Li’s PCCW telecoms business. 

Three UK has reached an agreement to acquire UK Broadband Limited

The company has been around since 2004. In 2014 it launched a fast broadband service in London.

A number of conditions have to be fulfilled before the takeover by Three can be completed. Boss Dave Dyson said the deal boosts their ambition to provide ‘great value internet connectivity for consumers’.