CK Hutchison, VimpelCom approved for joint venture in Italy

CK Hutchison Holdings Ltd., parent company of 3 Italia S.p.A. and VimpelCom Ltd., parent company of Wind Telecomunicazioni S.p.A., have been approved by the European Commission for a joint venture that will own and operate their telecommunications businesses in Italy, the companies said.

The joint venture will unlock EUR7.0 billion of investment in Italy´s digital infrastructure, supporting growth and jobs across the country
Businesses and consumers will benefit from increased download speeds and 4G/LTE coverage.

The combined business of 3 Italia and WIND will have over 31 million mobile customers and 2.8 million fixed line customers (of which 2.5 million are fixed broadband customers).

CK Hutchison is a multi-national conglomerate headquartered in Hong Kong with 270,000 employees in over 50 countries. CK Hutchison has five core businesses: ports and related services, retail, infrastructure, energy and telecommunications.

VimpelCom Ltd. is an international communications and technology company, headquartered in Amsterdam, that provides more than 200 million customers with voice, fixed broadband, data and digital services.