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France's Iliad agrees to acquire Wind, 3 Italia assets

2016-07-06 08:35:00| Telecompaper Headlines

(Telecompaper) French telecom group Iliad has signed an agreement to create a fourth Italian mobile operator by acquiring the frequencies and infrastructure assets freed up by Wind and 3 Italia, the local subsidiaries of VimpelCom and CK Hutchison, if they gain antitrust approval to merge. Iliad confirmed that its majority shareholder Xavier Niel does not hold any stake in the voting rights or capital of Telecom Italia and that he would sell his options in that company "in the next few weeks". Iliad was keen to stress that the remedy agreement is subject to European Commission approval as well as to the EC's approval of the Wind and 3 Italia merger, which is due on 08 September. The EC needs to decide whether Iliad can compete effectively with Telecom Italia, Vodafone Italia and the combined Wind-3 Italia.

Tags: italia wind assets acquire

Category:Telecommunications

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