CK Hutchison will be placing a new call to Italy [Reuters]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
NASDAQ:AMEX Investor Relations:
ckh.com.hk/en/ir
Company Research
Source: Reuters
HONG KONG, Feb 14 (Reuters Breakingviews) - CK Hutchison (0001.HK) , opens new tab will have to dial back into the telco M&A party in Italy. The Hong Kong conglomerate's plan to spin off the wholesale telecommunications business at its Italian subsidiary, Wind Tre, has fallen apart , opens new tab . Fast-tracking a different deal in the hyper-competitive Italian market is now boss Victor Li's priority. The 3.4 billion euro deal, announced in May, was part of CK Hutch's asset-light strategy for Wind Tre. By carving out the wholesale operations and network equipment and selling control to Sweden's EQT Infrastructure, the mobile operator would have freed up resources to better compete against Vodafone (VOD.L) , opens new tab , Iliad, Swisscom's Fastweb and Telecom Italia (TLIT.MI) , opens new tab . An intense price war is eroding profitability in the five-player market, where average revenue per user is among the lowest in Europe. Ad Break Coming Up Ad Visit Advertiser website
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