[ET Net News Agency, 3 July 2018] CK Hutchison Holdings (00001) said it will acquire
all of VEON Luxembourg Holdings' (VLF) shares in VIP-CKH Luxembourg S.a r.l. (JVC) and all
of VLF's shares in VIP-CKH Ireland Limited (FinCo), representing all of VEON Ltd.'s
interest in the joint venture equally owned by CK Hutchison and VEON, at a total of
EUR2,450 million (equivalent to about HK$22,246 million).
The JV comprising the JVC Group and FinCo operates via Wind Tre in Italy under the
brands "3" and "Wind", and offers fixed line and mobile telecommunications services such
as voice, SMS, MMS, mobile internet, mobile broadband and multimedia content such as
mobile television, music, games, sports news, video calling and other digital content. The
Wind Tre group has, in aggregate, about 29.5 million mobile customers and 2.7 million
fixed line customers as at 31 December 2017. The Wind Tre group is currently the largest
mobile operator measured by customer number in the Italian telecommunications market.
The transaction will give the CK Hutchison Group control of the largest mobile operator
in Italy as measured by customer number and will be earnings and cashflow accretive for
the Group. (HL)