06:19 AM EST, 12/05/2024 (MT Newswires) -- Vodafone Group's ( VOD ) proposed merger with Three can proceed provided both companies sign binding commitments "to invest billions" to deploy a 5G network across the country over the next eight years, the UK's Competition and Markets Authority said Thursday.

The regulator also said the merged company must cap mobile tariffs and give mobile virtual network providers with preset contractual terms for three years.

The regulator also said the network commitment and protections for both retail and wholesale buyers will address its competition concerns.

Vodafone did not immediately reply to MT Newswires' request for comment.