Partners have buy-sell option in Italian wireless merger

• New Italian wireless partners CK Hutchison (OTCPK:CKHUY +1.3%) and VimpelCom (VIP -1.9%) have a buy-sell option in their joint venture, starting three years after the conclusion of a deal merging their in-country divisions.
• The two agreed to combine Three Italia and Wind Telecomunicazioni after lengthy negotiations, in order to better compete with Telecom Italia and Vodafone. A market entry from Iliad will return the market to four players.
• A slide in a VimpelCom presentation notes the mechanism available to the parties, reportedly there in case of a deadlock on decisions.
• The merger is set to complete in Q4.
• Previously: Iliad's aggressive Italy plan 'does not worry' Telecom Italia (Sep. 14 2016)