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Vimpelcom, Hutchison confirm Wind-3 Italia merger talks
2015-05-14 09:17:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa and VimpelCom have released statements confirming negotiations to merge their respective Italian mobile phone units, 3 Italia and Wind Telecomunicazioni. "We are in discussions with Hutchison regarding a possible equal joint venture between 3 Italia SpA and Vimpelcom's subsidiary Wind Telecommunicazioni SpA," said VimpelCom, adding that "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." Hutchison also issued a statement to inform shareholders and investors about "exploratory negotiations with VimpelCom". The companies have been holding on-off talks since December 2013, with Wind's net debt level and the exact split of ownership representing the main hurdles to a deal.
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Category:Telecommunications