Hutchison and Vimpelcom announced joint venture Italy 3-Wind – Reuters Italy

       

MILAN (Reuters) – CK Hutchison and Vimpelcom have agreed to form a joint venture in Italy with subsidiaries Wind and 3 Italy.

       

said in a statement, adding that it will form a joint venture which will include the activities of three Italian and Wind, but is subject to the fulfillment of certain conditions.

       

The new company will be led by current AD Wind Massimo Ibarra. The current CEO of 3 Italy, Vincenzo Novari, will be appointed senior advisor to CK Hutchison and serve on the board of the new company once the transaction is complete.

       

The parties expect the transaction to be completed within 12 months.

       

The integration will create a company with over 31 million customers on mobile and 2.8 million customers on fixed.

       
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