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Italy approves CK Hutchison-VimpelCom mobile network merger

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Michael Vaughn
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Exterior view of a 3 Italia mobile phone store operated by CK Hutchison in Rome.

The Hong Kong company and VimpelCom have received final approval to form a joint venture that would create the largest mobile network operator in Italy.

CK Hutchison Holdings and Amsterdam-based VimpelCom have received final approval from the Ministry of Economic Development in Italy to form a joint venture that would create the largest mobile network operator in that country.

In a joint statement on Tuesday, CK Hutchison and VimpelCom said the government go-ahead means they are on track to complete the merger of their respective mobile businesses, Three Italia and Wind Telecomunicazioni, by the end of this year.

That deal, valued at €€21.8 billion HK$183.97 billion , was reported last year to be one of the largest mergers and acquisition transactions in Italy since 2007.

The combined entity will deliver major investment into Italy s digital infrastructure, bring benefits to consumers and businesses across Italy, and unlock significant value through synergies, CK Hutchison and VimpelCom said.

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