Date: 6 months ago   Category: IT & Media

Veon has closed the transaction on sale of mobile network operator in Italy — Rambler News Service


The telecommunication holding Veon has finished the transaction on sale of 50% of stocks of the Italian mobile network operator Wind Tre of the Hong Kong company CK Hutchison for $2,9 billion, have reported in the press service of the company. "VEON declares completion of the transaction selling 50% of stocks of the Italian mobile network operator Wind Tre of the Hong Kong CK Hutchison. VEON expects to use money from sale, equal € euros 2,45 billion (about $2,9 billion), for reduction of a debt and for the common corporate goals" — it is said in the statement. The company has specified that as a result of the transaction the relation of a net debt to EBITDA will decrease to 1,7 though earlier the company expected decrease in an indicator to 2. Veon will lock in net profit of about $1,2 billion in the report for III quart of 2018.

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