Hutchison Whampoa, Three's parent company, has denied it will close down the mobile network, after reports suggested the UK network's time was coming to an end.
According to The Sunday Times, Hutchison's Managing Director, Canning Fok, told Prime Minister David Cameron that if Three could not secure spectrum in the coming 4G auction, then it would shut down.
The parent company of the UK mobile network, Three, has since denied any such plans.
“The speculations that HWL may stop investment in the UK and/or quit the UK telecom market are totally untrue and groundless,” a spokesperson for the firm said.
“HWL is the largest Asian investor in the UK and is happy with its current investments in the country; and [we are] actively looking at various different investment opportunities in the UK.”
The UK is far behind other countries, such as the US, in the high speed data connection stakes, due to numerous set backs and delays.
The auction for the 4G spectrum will commence later this year, where it will come clear how much, if any, of the 4G spectrum Three will be able to secure.
O2, Vodafone and Three have made it clear that they are unhappy with Ofcom's decision to allow Everything Everywhere to re-use parts of its 1800MHz spectrum to set up a 4G network before the auction.
Everything Everywhere, responsible for the Orange and T-Mobile networks, would have an unfair advantage, according to the other networks.