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VEON closes Wind Tre sale to CK Hutchison

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VEON closes Wind Tre sale to CK Hutchison

VEON Ltd. has completed the sale of its 50% stake in Wind Tre SpA to CK Hutchison, VEON announced Sept. 7.

The company will use the €2.45 billion sale proceeds to reduce debt and for general corporate purposes. CK Hutchison now becomes sole owner of Wind Tre.

The European Commission recently approved the transaction after CK Hutchison took over pre-existing commitments previously provided by VEON and CK Hutchison when the Italian operator was formed in 2016.