Vodafone clashes with watchdog over Three merger

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The proposed merger between Vodafone and Three could lead to higher prices or a reduced service for millions of mobile users, the UK's competition watchdog has said.

The Competition and Markets Authority (CMA) said it had particular concerns those customers least able to afford mobile services would be most affected.

The CMA has been carrying out an in-depth investigation into the planned merger since March.

But Vodafone and Three said they disagreed with the CMA's findings, arguing the deal would improve competition and investment.