No deal has yet been signed, according to reports from Corriere Comunicazioni and Reuters. Corriere Comunicazioni suggested the ZTE deal could be worth from €800 million to €1 billion. Reuters said “around €1 billion”.
The merger, valued at €7.9 billion, received final regulatory approval in October. The new company is set to become potentially the largest mobile operator in Italy, with a market share of 36%, slightly above TIM’s 35%. Vodafone has 29%. In the fixed market, Wind/Three will be in second place to the dominant TIM, which has 50%. The new company will have 16%, with Swisscom’s Fastweb at 15% and Vodafone at 13%.
In order to secure approval for the merger Three and Wind agreed to sell spectrum and mast access to French company Iliad for €450 million so that it could set up a new fourth mobile operator.
Wind, owned by VimpelCom, currently uses Huawei, Nokia and Ericsson mobile equipment. Three, owned by CK Hutchison, is an Ericsson user.