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May 06, 2015 4:21 AM ET

Wireless Telecommunication Services

Company Overview of 3 Italia S.p.A.

Company Overview

3 Italia S.p.A. provides mobile telephony services, video communication services, internet access, and content services including TV, music, games, and news. The company is based in Milan, Italy. 3 Italia S.p.A. operates as a subsidiary of Hutchison Whampoa Ltd.

Via Leonardo da Vinci, 1

Trezzano Sul Naviglio

Milan, MI 20090

Italy

Phone:

39 02 44581

Fax:

39 024 45 81 27 13

Key Executives for 3 Italia S.p.A.

3 Italia S.p.A. does not have any Key Executives recorded.

3 Italia S.p.A. Key Developments

Italian Consumers Demand Refund After AGCM Fines Telecom Italia, 3 Italia, Wind and Vodafone Italia

Italian consumer association Altroconsumo has called on Telecom Italia, 3 Italia, Wind and Vodafone Italia to refund customers after the country's competition regulator AGCM fined the operators a total of over EUR 5 million for premium mobile services charged without user permission. The watchdog accused the operators of unfair and aggressive commercial practices and of misleading customers by including paid services that weren't requested or were requested unknowingly on their monthly phone bills. Altroconsumo announced that the 'historic' decision but went on to say that 'every single euro, unjustly and wrongfully charged, must be refunded to customers'. The consumer body sent a formal notice to each operator, adding that it would be following the case closely and would proceed to file a collective class action if the operators refused to refund customers for charges incurred after they unknowingly subscribed to premium services.

3 Italia Announces Earnings Results for the First Six Months of 2014

3 Italia announced earnings results for the first six months of 2014. For the period, the company's revenues fell 9% to EUR 815 million compared to EUR 891 million a year earlier, the company blaming the increasingly competitive local market and higher operating costs for the results. The company's EBTIDA also plunged by 46% to EUR 72 million, down from EUR 134 million in the year earlier period, while EBITDA margin in turn declined by 8 percentage points to 11%.

3 Italia And Wind Reportedly Resume Merger Talks

Hutchison Whampoa Limited (SEHK:13) has resumed talks with VimpelCom Ltd. (NasdaqGS:VIP) over merging their Italian mobile firms, 3 Italia S.p.A. and Wind Telecomunicazioni SpA, according to several people familiar with the situation. "The talks are live again," said one of the sources, who asked not to be named. Vimpelcom has hired Morgan Stanley to advise on the deal, while Goldman Sachs is working with Hutchison, said the sources. Mediobanca is also expected to have a role, said the sources. According to Reuters, spokespeople for Vimpelcom, Wind, Hutchison, Goldman Sachs, Morgan Stanley and Mediobanca declined to comment. The parties have held on-off talks for over six months and came very close to agreeing a deal in December, the sources said. The clearance of Hutchison's O2 Ireland acquisition, together with a partial refinancing of Wind's debt, is now creating a new momentum for the deal to happen, said the sources.

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