- Italy's government won't stand in the way of the merger between VimpelCom's (VIP) Wind Telecomunicazioni and Hutchison's (OTCPK:HUWHY) Three Italia, it said in agreeing not to exercise a veto right.
- It is asking the companies for more information about the combination and its plans as regards national security and service continuity, however.
- The €21.8B deal still requires regulatory approvals -- including from a newly tough regime led by Europe's competition commissioner Margrethe Vestager. The merger has more likelihood of success, with three roughly equal players remaining in the Italian market, than the recent aborted tie-up in Denmark between Telenor and TeliaSonera.
- Previously: VimpelCom up 3.8% as it forges $24B Italy merger with Hutchison (Aug. 06 2015)