Deals
Hutchison, VimpelCom Win EU Approval for Italy Phone Merger
- EU says deal cleared with package to aid Iliad market entry
- Regulatory opposition had stopped previous 4-3 telecoms deals
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CK Hutchison Holdings Ltd. and VimpelCom Ltd. won European Union approval for a merger creating Italy’s largest wireless provider after they agreed to help a smaller rival, Iliad SA, become the country’s fourth mobile carrier.
The companies got green light only after delivering “a remedy" to the EU’s concerns about reduced rivalry, Competition Commissioner Margrethe Vestager said at a media conference in Brussels Thursday.