CK Hutchison Holdings, parent company of mobile operator 3 Italia, and Vimpelcom, parent of Wind, are creating a joint venture that will own and operate their telecoms businesses in Italy, both companies said on Thursday night.
The 5050 joint venture has a value of 21.8 billion $23.8 billion, with Wind accounting for 13.9 billion and 3 Italia 7.9 billion, the companies said, making it one of the largest MA deals in Italy since 2007.
The deal ends constant speculation about a merger between the two companies and gives them scale to expand their operations in Italy, which is the fourth largest telecoms market...
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