As MNO consolidation creeps closer in the UK, a smaller one is about to precede it just off its shores – Channel Islands-active Sure has received approval from Guernsey authorities to acquire rival Airtel-Vodafone.
Sure reached an agreement with Bharti Global Limited in 2022 for Sure to acquire 100% of Airtel-Vodafone in the Channel Islands and received regulatory approval in Jersey earlier this year (each island has its own independent laws).
The States of Guernsey took longer to make a decision and has temporarily suspended local competition law to allow Sure’s acquisition of Airtel Vodafone to go ahead in Guernsey.
“Today’s decision is great news for Sure and Airtel customers and the future of telecommunications services in Guernsey and Jersey. We are grateful that Deputies have recognised the numerous strategic, economic and social benefits of our acquisition of Airtel.” said Sure Group CEO Alistair Beak.
No financial details have been disclosed but Sure has said that the merger will result in up to £48mn (EUR 57.5mn) being invested in a new, innovative mobile network which will include 5G services.
"This merger will result in significant investment being made in the Channel Islands’ digital infrastructure at a time when demand for connectivity has never been greater,” Beak continued. “With their broad range of skills and experience we look forward to welcoming the Airtel-Vodafone team to the Sure family. This will be a fantastic opportunity for us all, alongside the current rollout of fibre in Guernsey, to build a mobile network of the highest quality.”
Sure has had to make commitments in order to get the deal over the line, including to launch the Channel Islands Coop as a new MVNO.
The deal is expected to close by the end of 2024. In the meantime, Sure and Airtel Vodafone will continue to operate as two separate companies. Jersey and Guernsey where around 175,000 live, make up 99% of the population of the Channel Islands.
