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CK Hutchison says Italy approves VimpelCom JV

Reuters
The company logo of CK Hutchison Holdings is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip

HONG KONG (Reuters) - CK Hutchison Holdings Ltd said on Tuesday Italian authorities had approved its formation of a joint venture with VimpelCom Ltd to own and operate mobile telecommunications businesses in Italy.

The venture will be equally-owned by Hutchison's 3 Italia and VimpelCom's WIND Acquisition Holdings Finance, and the deal is expected to be completed before the end of December, the conglomerate said in a filing to the Hong Kong bourse.

Earlier in September, the EU approved the 21.8 billion euro (20.10 billion pounds) deal combining Hutchison's 3 Italia with VimpelCom's Wind, putting them in a better position to compete with rivals Telecom Italia and Vodafone Italia, part of Vodafone Group.

(Reporting by Donny Kwok; Editing by Stephen Coates)