(31 August 2018, Hong Kong) CK Hutchison Holdings Limited ("CK Hutchison" or "CKHH") today welcomed the European Commission's decision to approve its acquisition of Veon's 50% stake in Wind Tre.
CKHH will now become sole owner of Italy's leading mobile operator.
The Commission's decision marks the final regulatory step in the acquisition process and paves the way for final completion of the transaction, expected to occur on or about 7 September 2018.
Commenting on the European Commission approval, Canning Fok, Group Co-Managing Director of CK Hutchison, said:
"We welcome the approval of this transaction by the European Commission.
"CK Hutchison shareholders will benefit from this transaction, which will be strongly accretive to earnings and free cash flow.
"Consumers and businesses across Italy will continue to benefit from CKHH's ongoing major investment push in leading digital technology, allowing Wind Tre to deliver world-beating network capacity, coverage and speeds."
Notes to editors
The acquisition, announced on 3 July 2018, is for a total cash price of EUR 2.45 billion.
About CK Hutchison Holdings Limited
Listed on The Stock Exchange of Hong Kong Limited, CK Hutchison Holdings Limited (CK Hutchison) is a renowned multinational conglomerate committed to innovation and technology with businesses spanning the globe. With operations in over 50 countries and over 300,000 employees worldwide, CK Hutchison has five core businesses - ports and related services, retail, infrastructure, energy and telecommunications.
CK Hutchison reports turnover of approximately HKD415 billion (USD53 billion) for the year ended 31 December 2017.
For more information, please visit www.ckh.com.hk.
CK Hutchison Holdings Limited
Tel: +852 2128 1370
Tel: +44 20 7404 5959
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