VimpelCom and CK Hutchison receive final regulatory approval for Italy joint venture
Oct 25, 2016
(25 October 2016, Hong Kong and Amsterdam) : CK Hutchison Holdings Ltd. (“CK Hutchison”), parent company of Italian mobile operator 3 Italia, and VimpelCom Ltd. (“VimpelCom”), parent company of WIND, confirm that they have received final approval from the Ministry of Economic Development (Ministero dello Sviluppo Economico or MISE) in Italy for their 50/50 joint venture to merge the mobile businesses of 3 Italia S.p.A and WIND Telecomunicazioni S.p.A. (“WIND”).
CK Hutchison and VimpelCom welcome the approval, which means that the transaction remains on track to complete by the end of the year. The combined entity will deliver major investment into Italy’s digital infrastructure, bring benefits to consumers and businesses across Italy and unlock significant value through synergies.
About CK Hutchison
CK Hutchison is a multi-national conglomerate headquartered in Hong Kong and listed on the Hong Kong Stock Exchange Limited with 270,000 employees in over 50 countries. CK Hutchison has five core businesses: ports and related services, retail, infrastructure, energy and telecommunications. The telecommunications division includes mobile and fixed line operations in Hong Kong and Macau, mobile operations in Indonesia, Vietnam and Sri Lanka, and in Europe, mobile operations in Austria, Denmark, Ireland, Italy, Sweden and the United Kingdom.
Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.