Wind, 3 Italia set to resume merger talks - report

Nieuws Mobiel Italië 17 FEB 2015
Wind, 3 Italia set to resume merger talks - report

Hutchison Whampoa and VimpelCom are set to resume negotiations about a possible merger of their respective Italian mobile phone units, 3 Italia and Wind Telecomunicazioni, according to unnamed sources cited by Italian daily Il Giornale. Executives from the two parent companies held an initial meeting at the offices of Deutsche Bank in London on 16 February with a view to resuming talks that were called off by Vimpelcom in October, said the sources. The companies had been holding on-off talks since December 2013, with Wind's debt of around EUR 9.5 billion representing the main a hurdle to a deal.

Wind is currently the third largest mobile operator in Italy behind Telecom Italia (TIM) and Vodafone, with 3 Italia coming in fourth. A merger would create a company with around 33 million customers and annual revenues of some EUR 7 billion. According to the report, Hutchison Whampoa financial director Franck Sixt commented in recent weeks that he hoped to quickly resolve the consolidation of the company’s telecoms activities in Italy.

Categories:

Mobiel

Companies:

Wind,  Hutchison Whampoa,  Vimpelcom,  3 Italia

Countries:

Italië

Tags:

Wireless, Wholesale, M&A buyouts & divestments, Market research

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