Telecoms giant Vodafone has announced that it is teaming up with mobile phone network group Three to share their physical network and site infrastructure in Ireland.
Both Vodafone Ireland and Three Ireland will continue to run the network separately, but a JV - 50% owned by each firm - has been set up to manage, operate and maintain the network. The companies will also have the ability to purchase network infrastructure equipment together to reduce costs, increase the number of sites connected to a fibre backhaul network and the opportunity to expand mobile network coverage for customers.
Jeroen Hoencamp, the Chief Executive Officer of Vodafone Ireland, said: "Securing future investment for technologies in a competitive market is critical to maintaining a sustainable business. We believe this partnership will place both companies in a stronger position to commit to future investment in our network, and the products and services we provide to customers.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This agreement, in which infrastructure is shared between both parties, means we can concentrate investment on the intelligent part of the network that will ultimately deliver a better experience for Vodafone customers."
Vodafone also announced on June 7th that it would create a 50/50 JV with Spanish peer Telefoncia to create one national grid in the UK by pooling together parts of their network infrastructure, including towers and masts.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Sandwich generation’ carers losing £6,000 a year to support elderly relativesMiddle-aged adults are often caught between caring for children or grandchildren and their elderly parents, leaving them taking time out of the workforce and facing a huge hit to wages while they are still trying to save for retirement. We look at the true cost of caring.
-
Ground rents to be capped at £250 a year – what does it mean for you?The government has published draft legislation which would see ground rents capped at £250 per year for leaseholders. We examine what it means for homeowners and the housing market.
