The European Commission (EC) approved the deal VimpelCоm and corporations Hutchison about creating them on an equal footing the largest operator in the mobile market of Italy, said the press service of the VimpelCоm.
Earlier it was reported that the EC intends to check whether the transaction VimpelCоm and Hutchison to higher prices and reduced choice in the field of mobile services to Italian consumers.
The merger working in the Italian companies of Wind Telecomunicazioni (“daughter” VimpelCоm) and 3 Italia (the”daughter” of Hutchison) will result in an operator with more than 31 million mobile subscribers and 2.8 million clients connected to the fixed networks of communication, including 2.5 million users of broadband networks.
In the message VimpelCоm notes that business combinations will provide synergistic effect and will bring significant benefits for both parent companies, only the capital and maintenance costs is projected to save more than €5 billion.
To complete the transaction is expected in the fourth quarter of 2016 after receiving approval from the national regulators.