CK Hutchison, VimpelCom close 3 Italia, Wind JV deal

News General Italy 7 NOV 2016
CK Hutchison, VimpelCom close 3 Italia, Wind JV deal

Italian operators 3 Italia and Wind are now formally controlled by the joint venture created to combine their businesses after parent companies CK Hutchison and VimpelCom announced the completion of the corresponding transaction. The merger, one of the largest in Italy since 2007, was approved by the country’s Ministry of Economic Development (MISE) last month after the European Union’s antitrust authorities cleared the deal in September. In a statement, the parent companies also confirmed that current wind CEO Maximo Ibarra will lead the joint venture, supported by Dina Ravera, who will serve as merger integration officer, and Stefano Invernizzi, who will be the new entity’s chief financial officer. Vincenzo Novari, the current CEO of 3 Italia, has been appointed special adviser to CK Hutchison.

Although the new business is set to overtake even Telecom Italia for overall number of customers, with over 31 million active lines, a recent Il Sole 24 Ore report suggested that the most pressing item on the desk of CEO Maximo Ibarra will be the need to combine the companies’ separate sales networks into a single operation, with dozens of Wind and 3 stores throughout Italy set to become redundant. 

Categories:

General

Companies:

Wind,  Telecom Italia,  Vimpelcom,  3 Italia,  CK Hutchison

Countries:

Italy

Tags:

Production planning & operations, M&A buyouts & divestments, Officers & directors

Related Articles

ITALY 24 JAN 2022

Vodafone and Iliad discussing merger of Italian units - report

Vodafone and Iliad are in talks to reach a deal intended to merge their respective units in Italy, reports Reuters, citing unnamed sources close to the negotiations. If they reach an agreement, the combined company would be the country's leading mobile operator, with around 36 percent of the market and revenues of nearly EUR 6 billion.

ITALY 19 MRT 2020

WindTre client base down 3.3 mln year on year to 23.8 mln, FY revenues dip 1%

The customer base of Italian operator WindTre declined to 23.8 million at the end of December 2019 from 27.1 million a year earlier due to aggressive market competition, above all that of low-cost challenger Iliad. Full-year results released by owner CK Hutchison revealed that registered prepay customers fell 10 percent year on year to 13.4 million in Q4, while the postpay customer base declined 3 percent to 10.5 million. The company's total active customer base fell by 3 million to 21.5 million at the end

ITALY 9 MRT 2020

Wind Tre unveils new logo ahead of official launch of joint 'WindTre' brand

Italian operator Wind Tre has unveiled a new company logo and identity for its main brand ahead of its official launch as a single operator on 16 March. Over 3 years after the merger of 3 Italia and Wind was completed, the company confirmed that the unique brand will be called 'WindTre' and will have 'W3' as its logo, with orange chosen as the brand's main colour. A major advertising campaign to introduce the new logo and branding will be launched on TV starting on 08 March under the slogan "molto piu vicin

ITALY 17 FEB 2020

Wind Tre mulling use of WTRE as main brand and Very Mobile as second brand - report

Italian operator Wind Tre is preparing to launch a second brand to compete with low-cost rivals such as TIM's Kena Mobile, Vodafone's Ho Mobile and new entrant Iliad Italia, reports Mondo Mobile Web. The company filed an application to register the trademark Very Mobile last November and is also considering using WTRE as its main brand, according to unnamed sources. Other alternatives mentioned in the report include W3, Wave, Trend, People and Wind & Me.

ITALY 26 JUN 2019

Ibarra confirmed as new Sky Italia CEO

Satellite broadcaster Sky Italia has confirmed that current KPN CEO Maximo Ibarra will take over as its new chief executive on 01 October immediately after leaving the Dutch operator. In a statement cited by La Stampa and other Italian dailies, Sky Italia said Ibarra's background played a key role in his appointment ahead of the launch of its telecommunications service later this year.

ITALY 30 MEI 2019

Wind Tre revenues fall to EUR 1.35 bln in Q1

Italian operator Wind Tre posted total revenues of EUR 1.347 billion in the first three months of 2019, according to selected financial data provided by the company on the basis of earlier IAS 17 accounting standards and released by owner CK Hutchison. The figure is slightly down on the operator's year-earlier first quarter revenues of EUR 1.41 billion. However, earnings before interest, taxation, depreciation and amortisation (EBTIDA) came to EUR 526 million, including ongoing synergy costs resulting from

ITALY 28 NOV 2018

Wind Tre 9-mth revenues down 11% on Iliad effect

Italian operator Wind Tre posted total revenues of EUR 4.10 billion in the first nine months of 2018, down 11 percent year on year, according to a statement from owner CK Hutchison. Earnings before interest, taxation, depreciation and amortisation (EBTIDA) fell nearly 7 percent to EUR 1.38 billion, while the company's pre-tax losses for the January to September period came in at EUR 351 million.

ITALY 27 AUG 2018

Wind Tre to phase out Veon app next month

Italian operator Wind Tre has begun informing customers that it will be shutting down its Veon app next month after less than two years, reports website Mobile World. The platform was launched by Wind at the end of 2016 and includes an app for messaging, VoIP and a range of often zero-rated offers from the company and partners. Wind said at the time that the platform would eventually replace the MyWind customer services platform. However, the company has now sent an SMS to users informing them that all the

ITALY 24 AUG 2018

EC set to clear Hutchison's Wind Tre buyout - report

CK Hutchison previously said it expects the takeover to close in the third quarter of 2018, delivering strong recurring earnings over the coming years ahead. In 2017, its existing 50 percent stake in Wind Tre business contributed over EUR 1 billion attributable EBITDA and over EUR 800 million attributable EBIT for the group, it said.

ITALY 1 AUG 2018

Wind Tre revenues down 10% to EUR 2.77 bln in H1

Italian operator Wind Tre reported total revenues of EUR 2.77 billion in the first six months of 2018, down 10.1 percent year on year after what CEO Jeffrey Hedberg described as a "challenging" period due to "extremely competitive market conditions" intensified by the entry of France's Iliad in May following the completion of Wind's merger with 3 Italia in January 2017. Service revenues declined 7.9 percent year on year to EUR 2.42 billion due above all to the negative performance of the company's mobile se

ITALY 3 JUL 2018

CK Hutchison to acquire 100% of Italy's Wind Tre for EUR 2.45 bln

CK Hutchison said the deal to take over sole ownership Wind Tre will secure strong recurring earnings for the years ahead. Last year its original 50 percent stake in the Wind Tre business contributed over EUR 1 billion attributable EBITDA and over EUR 800 million attributable EBIT for the group. Veon, meanwhile, said it expected to book a net gain of some EUR 1.1 billion when the all-cash agreement completes and intends to use the proceeds to pay off debt and reduce its leverage ratio.

ITALY 26 JUN 2018

Wind and 3 Italia complete unified network in Bari

Italian operator Wind Tre has announced the completion of work to unify the mobile network infrastructure of Wind and 3 Italia in the southern port of Bari. In a statement, the company said the newly-unified network will provide numerous benefits to customers in Bari in the form of improved performance, coverage, quality of service, speed of access and a better user experience. The operator claimed an up to 250 percent increase in 4G speeds and a further significant improvement in 4G and 3G coverage, above

ITALY 14 MEI 2018

Wind Tre revenues fall 9% to EUR 1.4 bln in Q1

Wind Tre, the Italian operator resulting from the 50-50 joint venture between Veon's Wind and Hutchison's 3 Italia, reported revenues of EUR 1.41 billion in the first three months of 2018, down 8.9 percent year on year, attributed above all to strong competitive pressure, partly offset by rising data revenues. The group's EBITDA fell 5.3 percent to EUR 509 million due to higher synergy costs resulting from the merger, but the margin increased 1.3 percentage points year on year to 36.1 percent. Wind Tre CEO

ITALY 17 APR 2018

Wind and 3 Italia activate unified network in Milan

Italian operator Wind Tre has announced the completion of work to unify the mobile network infrastructure of Wind and 3 Italia in Milan. In a statement, the company said the newly-unified network will provide numerous benefits to customers in Milan in the form of improved performance, coverage, quality of service, speed of access and a better user experience. The operator claimed an up to 250 percent increase in 4G speeds and a further significant improvement in 4G and 3G coverage, above all in indoor envir

ITALY 20 MRT 2018

Wind, 3 Italia launch unified network in Bologna

Italian operator Wind Tre has announced the completion of work to unify the mobile network infrastructure of Wind and 3 Italia in Bologna. In a statement, the company said the newly-unified network provides numerous benefits customers in the form of improved performance, coverage, quality of service, speed of access and a better user experience. The operator claimed an up to 250 percent increase in 4G speeds and a further significant improvement in 4G and 3G coverage, above all in indoor environments.

Just In

16:42

SLT-Mobitel launches 5G network in Sri Lanka

16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.