CK Hutchison to acquire 100% of Italy’s Wind Tre for EUR 2.45 bln

CK Hutchison said the deal to take over sole ownership Wind Tre will secure strong recurring earnings for the years ahead. Last year its original 50 percent stake in the Wind Tre business contributed over EUR 1 billion attributable EBITDA and over EUR 800 million attributable EBIT for the group. Veon, meanwhile, said it expected to book a net gain of some EUR 1.1 billion when the all-cash agreement completes and intends to use the proceeds to pay off debt and reduce its leverage ratio. – Telecompaper