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EU: Hutchison’s US$2.9b Wind Tre deal approved

 |  September 2, 2018

According to a report from Reuters, Hutchison received approval from EU antitrust regulators on Friday, August 31, for its €2.45 billion (US$2.9 billion) deal to buy out Veon from their Italian joint venture Wind Tre.

In July, Hutchison stated it would buy full control of the Italian venture from Veon as the Amsterdam-based telecoms operator looked to cut debt and focus on emerging markets.

The European Commission announced Hutchison’s pledge to uphold conditions attached to the deal when Veon and Hutchinson merged their mobile operations two years ago had addressed its concerns about Hutchinson’s sole ownership of the asset, confirming a Reuters story on August 23.

“Today’s decision confirms that the structural remedies accepted by the Commission in order to clear the creation of Wind Tre in 2016 were effective,” European Commissioner for Competition Margarethe Vestager said in a statement.

Full Content: Reuters

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