TLC: wedding between Wind and 3 Italy, born giant 34 million customers – AGI – Agenzia Journalistic Italy

23:13 August 6, 2015

(AGI) – Rome, Aug. 6 . – The announced marriage between 3 and Wind Italy and ‘was signed. This was announced by the CEO of Vimpelcom Jean Yves Charlie. The future society ‘will be’ guided by Maximo Ibarra, current CEO of Wind. CK Hutchison Holdings Limited, a company ‘control Italian mobile operator 3 Italy, and VimpelCom, companies’ control of Wind, reached an agreement for a joint venture for the management of their activities’ of telecommunications in Italy. Through the integration, 3 Italy and Wind will acquire the size and efficiency necessary to continue to offer innovative telecommunications services at competitive prices and to compete even more ‘punchy Italian market. The integration of the two networks, combined with further significant investments, will ensure ‘a quality Italian furniture to customers’ unparalleled network and will accelerate ‘the development of broadband services to mobile and fixed high speed’ in the country. Customers Italian consumer and business can take advantage of the significant improvement of LTE coverage, as well as the increased speed ‘download, reliability’ of the network and services even more ‘advanced.

With over 31 million mobile customers and 2.8 million fixed (including 2.2 million broadband), the integration is expected to realize efficiencies, both Capex Opex, for a present value more than 5 billion euro net of integration costs. Total revenues of the two companies’ in 2014 amounted to 6.4 billion euro. The deal represents the most ‘largest operation of M & A in Italy since 2007. “This – said Canning Fok, Group Managing Director, Co-Ck Hutchison – represents a milestone for our business in Italy. The combination of 3 Italy and Wind will create ‘an operator financially sound and efficient, able to compete at a high level in the market. This joint venture will give’ to the new operator the size and strength to offer Italian customers, both corporate and consumer, with an excellent network more coverage 4G speed and a ‘more’ high.

This agreement confirms the continued confidence of CK Hutchison in the Italian economy and its commitment to the development of an infrastructure of digital services on a national scale. ” The joint venture holding company (Hutchison 3G Italy Investments Sa? .rl (The “JV Holdco”)) will ‘owns Wind and 3 Italy, while CK Hutchison and VimpelCom indirectly will control 50% of the shares of the JV. The transaction, subject to approval by the regulatory bodies, including the European Competition Authority, should be completed within 12 months.
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