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Wind-3 Italia close to finalising merger - report
2015-07-30 08:11:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa and VimpelCom are close to finalising a merger of their respective Italian mobile phone units, 3 Italia and Wind Telecomunicazioni, to create what would be Italy's largest mobile operator, according to unnamed sources cited by Bloomberg. An announcement about the merger could arrive as early as next week, said two of the sources, with the owners discussing a possible capital hike of EUR 2 billion for the combined entity. Another source suggested the parties may bring in a private-equity investor. The news comes over two months after the companies announced they were in discussions regarding a possible equal joint venture. However, no final agreement has yet been reached and the transaction could still fall apart, with issues such as possible asset sales still to be ironed out, said the sources. The report also suggests that Wind may look to divest Infostrada, its fixed-line business, as well more mobile towers as part of the deal.
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Category:Telecommunications