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Wireless

Veon completes sale of Wind Tre stake to CK Hutchison

Friday 7 September 2018 | 11:18 CET | News
Veon has completed the sale its 50 percent stake in Italian operator Wind Tre to its partner CK Hutchison just a week after the European Commission cleared the transaction. In a statement, Veon said it expects to use the EUR 2.45 billion proceeds from the sale to reduce debt and for general corporate purposes. The group's net pro-forma leverage ratio now stands at around 1.7x, significantly below its previously announced target ratio of 2.0x, said Veon, adding that it will record a net gain of approximately USD 1.2 billion in Q3 2018 as a result of the transaction.

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Categories: Mobile & Wireless
Companies: European Commission / Iliad / Veon / Wind Tre
Countries: Italy
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