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Italy: Russia’s Vimpelcom and Hong Kong’s Hutchison Whampoa consider Italian mobile merger

By  |  May 14, 2015

Russia’s Vimpelcom and Hong Kong tycoon Li Ka-shing’s Hutchison Whampoa are in talks to merge their Italian mobile phone businesses in a joint venture, marking further telecoms industry consolidation in Europe.

“We are in discussions with Hutchison regarding a possible equal joint venture between 3 Italia SpA and Vimpelcom’s subsidiary WIND Telecommunicazioni SpA,” Vimpelcom Chief Executive Jean-Yves Charlier said on Wednesday in comments sent to Reuters.

“There can be no assurances that an agreement will be signed and any transaction would be subject to, among other things, achieving satisfactory debt levels and obtaining all required corporate and regulatory approvals.”

The talks come as Hutchison is wrapping up its $15.4 billion purchase of Spanish firm Telefonica’s British mobile unit, O2.

 

Full content: Reuters

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