Italian mobile network
operators 3 Italia and Wind as of Monday will be both controlled
by the joint venture CK Hutchinson and VimpelCom, according to a
statement released by the company.
Wind CEO Maximo Ibarra will lead the joint venture,
supported by Dina Ravera, the merger integration officer, and by
Stefano Invernizzi, in the role of chief financial officer.
Vincenzo Novari, CEO of 3 Italia, will take on the role of
special adviser to CK Hutchinson.
The statement added that the new company aims to reach a
"synergy in terms of costs and investments worth 700 million
euros a year".
The Co-Managing Director of CK Hutchinson, Canning Fok,
said the merger will "bring benefits to business customers and
consumers - through greater reliability, speed and network
coverage - and allow Italy to remain in a leading position in
the digital economy the global". European anti-trust regulators
in September cleared the 21.8-billion-euro deal to merge
Hutchinson's 3 Italia and Vimpelcom's Wind.
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