Deals
Telecom Italia Considers Combination With Hutchison Unit
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Telecom Italia SpA, Italy’s biggest phone company, said it’s examining a possible merger with Hutchison Whampoa Ltd.’s H3G unit, a combination that would eliminate a competitor offering the cheapest wireless services in the country.
Telecom Italia’s board plans to discuss the topic at a meeting scheduled for April 11, the Milan-based company said in a statement, confirming a Bloomberg News report yesterday. Hong Kong billionaire Li Ka-shing’s Hutchison said in a separate statement it’s looking at “possible business combinations” with Telecom Italia. The companies described their contacts as “preliminary.”