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Hutchison cleared to take over 100% of Wind Tre
2018-08-31 16:48:00| Telecompaper Headlines
(Telecompaper) The European Commission has cleared CK Hutchison's acquisition of its partner Veon's 50 percent stake in the Italian operator Wind Tre. The only condition for the merger approval was that Hutchison take responsibility for implementing the conditions imposed by the EC in 2016 when Wind Tre was formed.
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CK Hutchison to acquire 100% of Italy's Wind Tre for EUR 2.45 bln
2018-07-03 08:44:00| Telecompaper Headlines
(Telecompaper) 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.
Hutch buys Veon out of Wind Tre for 2.45bn
2018-07-03 02:00:00| Total Telecom industry news
CK Hutchison will take sole control of Italian mobile joint venture Wind Tre with the acquisition of partner Veon's stake for €2.45 billion. The Hong Kong firm and Veon merged their Italian mobile businesses, Tre Italia and Wind respectively, in late 2016, each taking a 50% stake. Veon said its exit from Wind Tre will allow it pay down debt and increase its focus on emerging markets…read more on TotalTele.com »
Italy fines TIM, Wind Tre, Vodafone and Fastweb EUR 1.16 mln each for 28-day bills
2017-12-21 08:57:00| Telecompaper Headlines
(Telecompaper) Italian communications regulator Agcom has fined the operators Telecom Italia (TIM), Wind Tre, Vodafone and Fastweb a total of EUR 1.16 million each for calculating fixed line invoices on the basis of a 28-day period and overcharging customers over 12 months. In a statement, the watchdog said it had decided to apply the maximum fine provided by law for failure to comply with its order to abolish 28-day fixed-line telephony and convergent bills with a view to "ensuring maximum transparency and comparability of current prices, as well as control of consumption and spending by means of a standard (monthly) unit of reference."
Wind Tre posts positive financials despite pricing pressures
2017-11-09 01:00:00| Total Telecom industry news
Italian telco Wind Tre has posted solid results for the first 9 months of 2017, with EBITDA increasing by 2.9% year-on-year to €1.619 billion, thanks in part to €98 million of OpEx synergies. Operating cash flow was up 8.9% to €877 million, compared with the same period last year…read more on TotalTele.com »
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