Vimpelcom, CK Hutchison can invoke buy-sell option on Italy JV after three years

September 14, 2016 3:57 PM

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MILAN Vimpelcom (VIP.O) and CK Hutchison Holdings Ltd (0001.HK) can invoke a buy-sell option on the stakes they hold in the joint venture that merges their Italian units from three years after the deal's conclusion, a Vimpelcom presentation showed.

Earlier this month, the EU gave its greenlight to the 21.8 billion euro ($24.56 billion) deal combining Hutchison's 3 Italia with VimpelCom's Wind, putting them in a better position to compete with rivals Telecom Italia (TLIT.MI) and Vodafone Italia, part of Vodafone Group (VOD.L).

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