Related News
Hutchison, VimpelCom to merge Italian assets
THE European Union yesterday cleared a mobile phone tie-up between Hong Kong’s Hutchison and Russia’s VimpelCom in Italy after they agreed to sell some of the business to boost competition.
Hutchison, owned by Hong Kong tycoon Li Ka-shing, and VimpelCom agreed last year to merge their 3 Italia and Wind networks but the European Commission demanded they make room for new entrants in the Italian market.
In July, France’s Iliad, parent company of low-cost operator Free, said it would acquire frequencies and radio towers from Hutchison and VimpelCom.
The commission, which polices European Union competition policy, said “the effective structural remedies offered by Hutchison and VimpelCom fully address the commission’s competition concerns.”
“They will ensure the market entry of French telecom operator Iliad as a new mobile network operator in Italy,” it said in a statement.
“This means that the parties can grow and reap the benefits of combining their assets, whilst Italian mobile customers will continue to profit from effective competition.”
Approval was particularly important for Hutchison after the commission decided in May to block its 14 billion euro (US$15.6 billion) acquisition of Telefonica’s O2 mobile unit in Britain on the grounds it would harm competition.
VimpelCom’s Wind business currently ranks third in the Italian market and Hutchison fourth, but together they will become the largest entity ahead of Telecom Italia’s Tim and Britain’s Vodafone.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.