Hutchison Whampoa’s 3 Group only recently received clearance by the European Commission to acquire Ireland’s O2 wireless competitor, but that deal won’t slow Hong Kong telco’s merger plans.
According to reports, Hutchison Whampoa is in talks with Russia’s Vimpelcom to merge the companies’ units in Italy. Unnamed sources told reporters the companies have hired banks to advise on the deal, suggesting a merger may soon be in the future.
Vimpelcom and Hutchison Whampoa have been speaking about a possible merger on-and-off for about six months, according to reports. But sources said the Commission’s recent approval for Hutchison to acquire O2 in Ireland gave the company momentum to strike an official real with the Russian operator.
Should a merger deal emerge, Italy would see Hutchison’s 3 Italia merge with Vimpelcom’s Wind.
Full content: The Independent
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