Wind and 3 Italia likely to merge in near future
Wind Telecomunicazioni, the Italian telco owned by Russian group Vimpelcom, is likely to merge with 3 Italia, a mobile phone subsidiary of Hong Kong conglomerate Hutchison Whampoa, in the near future, Italian language daily Il Messaggero reported. The report cited a reserved analysis by the Bernstein investment house that in turn cited Marco Patuano, the CEO of Telecom Italia who said talks between Wind and 3 Italia were an open secret.
The report said one of the main obstacles to the merger is corporate governance, in terms of the balance of shareholder control at the end of the merger.
The report said, Wind and 3 Italia have held discussions in the past but they had foundered because Hutchison owner Li Ka Shing had asked at least EUR 5bn for 3 Italia.
Source Il Messaggero