1. EU approves Hutchison, Vimpelcom 21.8 bililion euro Italian deal

EU approves Hutchison, Vimpelcom 21.8 bililion euro Italian deal

EU antitrust regulators cleared on Thursday CK Hutchison Holdings' plan to merge its Italian mobile unit with that of Vimpelcom after they pledged to sell assets to Iliad to help it enter the Italian market.

By: | Brussels | Published: September 1, 2016 4:22 PM
The 21.8-billion-euro (.3 billion) deal combines Hutchison's 3 Italia with Vimpelcom's Wind, better able to compete with rivals Telecom Italia and Vodafone Italia . (Reuters) The 21.8-billion-euro (.3 billion) deal combines Hutchison’s 3 Italia with Vimpelcom’s Wind, better able to compete with rivals Telecom Italia and Vodafone Italia. (Reuters)

EU antitrust regulators cleared on Thursday CK Hutchison Holdings’ plan to merge its Italian mobile unit with that of Vimpelcom after they pledged to sell assets to Iliad to help it enter the Italian market.

“We can approve the deal because Hutchison and Vimpelcom have offered a strong remedy that enables a new mobile network operator, Iliad, to enter the Italian market,” European Competition Commissioner Margrethe Vestager said.

The 21.8-billion-euro ($24.3 billion) deal combines Hutchison’s 3 Italia with Vimpelcom’s Wind, better able to compete with rivals Telecom Italia and Vodafone Italia .

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