Hutchison considering 3 Italia sale

30 Oct 2007

The CEO of 3G mobile operator 3 Italia has confirmed that parent company Hutchison Whampoa is considering the sale of a ‘sizeable’ stake in the cellco, with a number of firms, most notably Deutsche Telekom of Germany, said to be interested. A report from Dow Jones quotes 3 Italia’s chief executive, Vincenzo Novari, who says that any decision will be up to Hutchison Whampoa shareholders: ‘They’ve already expressed their willingness to put a value on their 3G investment in Italy. Now they could consider a private sale, or the sale of a sizeable stake in the company, which could be 30% or more.’ 3 Italia operates a nationwide UMTS 3G network, and has signed up 7.7 million subscribers since its launch in 2003.

Italy, 3 Italia (H3G Italia), CK Hutchison