Hutchison in talks to sell 3 Italia - report

News Wireless Italy 4 AUG 2011
Hutchison in talks to sell 3 Italia - report
Hutchison Whampoa is in talks to sell 3 Italia to Telecom Italia, according to Italian newspaper Il Corriere della Sera. Hutchison declined to comment on the reports. An unsourced report by the paper said Goldman Sachs and Merrill Lynch were working on a valuation of the company, which could be around EUR 4.3 billion or 9.3 times EBITDA.The price will depend in large part on the value of 3 Italia's tax losses.

Categories:

Mobile

Companies:

Telecom Italia,  Hutchison Whampoa,  3 Italia

Countries:

Italy

Tags:

M&A buyouts & divestments

Related Articles

ITALY 5 AUG 2011

Telecom Italia posts H1 net loss on domestic writedown

Telecom Italia reported first-half revenues of EUR 14.543 billion, up 10 percent from a year earlier thanks to growth in Brazil and the increase in its stake in Telecom Argentina. In its home market Italy, revenues fell 7.3 percent to EUR 9.356 billion. EBITDA rose 4.3 percent to EUR 5.977 billion, while the EBITDA margin fell 2.3 percent points to 41.1 percent. In organic terms, EBITDA was down 2.2 percent, as the result in Italy slid 7.6 percent to EUR 4.547 billion. The company had a net loss of EUR 2.01

EUROPE 4 AUG 2011

3 Group reports positive EBIT, sales up 23% in H1

The 3 Group moved to an EBIT profit of HKD 776 million in the first half of 2011, from a loss of HKD 998 million a year earlier. The Hutchison Whampoa subsidiary said all operations, apart from Australia and Ireland, reported improved results and positive EBIT for the period. 3 Group revenue grew 12 percent in local currencies and was up 23 percent in the group's reporting currency to HKD 36.76 billion. ARPU, based on a 12-month trailing average of the active customer base, was down 1 percent to EUR 29.23 f

ITALY 30 MAY 2011

3 Italia loses appeal over asymmetric termination rates

Italy's State Council rejected a final appeal from mobile operator 3 Italia asking for its termination rates to remain higher than those of other operators, Il Sole 24 Ore reports. Italy's Communications Authority (AgCom), under pressure from the European Commission, imposed a glide path towards symmetrical rates in 2014. As a result the smallest operator will likely owe up to EUR 65 million to the other operators, due to the lower traffic on its network.

Just In

06:14

Telstra International cuts 160 roles in Accenture shake-up - report

06:09

Google raises dividend as AI, cloud demand drive accelerated growth in Q1

06:01

Princeton Digital Group secures 240 MW site in Indonesia

06:00

NTT Docomo launches Universal ticket campaign for premium mobile plan users

Commentary

20 APR 10:36

Netflix back to organic growth and doing just fine

11 FEB 12:29

Odido shareholders face tricky exit after abandoned IPO

2 FEB 13:49

KPN results show little bother from the competition

2 JAN 13:21

Open Dutch Fiber's new management team takes up turnaround challenge

Background

27 APR 14:33

Virgin Media O2: from coax to fibre and 80% coverage in 2028

26 APR 23:04

The week in telecoms: sovereign hopes take hold in Europe and Apple confirms new CEO

19 APR 23:04

The week in telecoms: SFR takover moves ahead, Amazon bags Globalstar and Netgear in favour in US

12 APR 23:28

The week in telecoms: Samsung profits soar, Netflix targets kids and telcos build defence vertical

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.