Telecom Italia Ends Mobile Merger Talks with Hutchison Whampoa
Merger talks between Italy’s Telecom Italia and the local arm of Hutchison Whampoa have broken down.
The two companies had started sporadic talks about a merger of their mobile networks back in April, but it had been recently suggested that Hutchison Whampoa was getting impatient with Telecom Italia, which has been distracted by its landline spin-off efforts.
A Telecom Italia board member, Tarak Ben Ammar told Reuters that the company had decided to end the talks.
“No, they are definitely finished,” he said when asked if it was merely a pause for thought.
Hutchison Whampoa’s Three network is the smallest of the country’s four mobile networks with a customer base of around 9.5 million. A merger with Telecom Italia would have given the enlarged firm around 31.4 million customers.