VodafoneThree raises cost-cutting target to £1bn after merger

Vodafone has hiked its UK cost-saving target to £1bn a year as the telecoms giant looks to boost profits following its merger with Three. The FTSE 100 company said on Thursday it now expects VodafoneThree to deliver £1bn in annual savings by 2032, up from its previous target of £700m by 2030. The upgraded target comes just over two months after Vodafone completed a £4.3bn buyout of CK Hutchison s remaining 49 per cent stake in the business, giving it full control of Britain s largest mobile operator. Vodafone also set new financial targets for the merged company, including mid-to-high single-digit annual growth in adjusted earnings between 2025 and 2032 and plans to more than triple operating free cash flow over the same period. Chief executive Margherita Della Valle said the group had become more confident in the merger’s financial potential following a strong start. We created VodafoneThree because we saw the opportunity to transform the UK market. To create the scale