EU to decide on Hutchison-VimpelCom deal in March
10 February 2016 |
Hutchison and VimpelCom have notified the European Commission of their intention to merge their Italian operations.
The companies made a filing on Friday and a decision is expected by March 11 2016, according to the EU executive’s website.
Hutchison and VimpelCom announced last August their plans to form a 50-50 joint venture that will combine the assets of 3 Italia and Wind in order to compete against rivals such as Telecom Italia and Vodafone. The deal will reduce the number of mobile operators in the country from four to three.
Hutchison has repeatedly stated that the combination of both entities will reduce costs. "This transaction will ensure that there is a strong third player in the Italian market that is able to compete head-on in the market place against the two larger operators," said the company.
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