Hutchison, VimpelCom win EU approval for phone merger

Milan

CK Hutchison Holdings Ltd and VimpelCom Ltd have won European Union approval for a merger creating Italy's largest wireless provider after they agreed to help a smaller rival, Iliad SA, become the country's fourth mobile carrier.

EU Competition Commissioner Margrethe Vestager said on Thursday that the "strong" concessions ensure that the Italian mobile industry remains competitive, according to an emailed statement. Regulators had been concerned that the deal could otherwise have allowed prices to increase, reduced quality and harmed so-called virtual mobile operators by reducing the number of operators willing to let them piggyback on their network.