UPDATE: Wind Open To Consolidation In Italian Market - Sawiris
July 11 2011 - 11:24AM
Dow Jones News
Italian telecoms operator Wind Telecommunicazioni SpA is ready
to consider integrating with other smaller operators in the
country, including Hutchison Whampoa Ltd.'s (0013.HK) 3 Italia, but
it has yet to start talks, a shareholder in Wind parent company
VimpelCom Ltd. (VIP) said Monday.
"We are completely open to integration with all the three
companies you mentioned," Egyptian tycoon Naguib Sawiris told a
news conference in reply to a question about Wind's possible
interest in Internet services provider Tiscali SpA (TIS.MI), 3
Italia and Fastweb SpA.
"There are synergies for sure, but there's nothing concrete
right now," he added.
Sawiris became a shareholder of VimpelCom after completing the
$6 billion sale of telecommunications assets held by Orascom
Telecom Holding (ORTE.CI) to the Russian telecommunications
operator in April. The assets include a stake of more than 50% in
Wind.
Fastweb, a unit of Swisscom AG (SCMN.VX), runs a fiber-optic
network.
Sawiris also said Monday that, in his view, the Italian
government should postpone the auction for the new
fourth-generation mobile frequencies, which is planned to be
completed in September.
"Due to the difficult European economic situation, it's not the
right time for the auction," he said. He added that the government
wouldn't raise the expected proceeds, which are seen at around EUR3
billion.
Sawiris suggested the Italian government should at least
consider an installment payment for the auction, which would give
the mobile operators enough time to recover their investment.
-By Giada Zampano and Gilles Castonguay, Dow Jones Newswires;
+39 06 69766920; giada.zampano@dowjones.com
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