Vodafone vows to invest more than £1bn in a year as it seals Three UK merger

Telecoms groups' 16.5bn tie-up will create largest mobile network in UK with more than 27 million subscribers

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Vodafone has promised to invest more than 1bn in expanding its network coverage in the next year, as it sealed a 16.5bn merger with its former mobile rival Three UK.

The new business, named VodafoneThree, will invest 11bn in its coverage over the next decade, in line with commitments agreed with the UK competition regulator last year. It will invest 1.3bn in capital expenditure projects in its first year, the company said on Monday.