Weather chief wants to take 3 Italia under his umbrella

10 Jul 2008

Italian newspaper La Repubblica reports that Weather Investments chairman Naguib Sawiris had made an offer of approximately EUR4 billion (USD6.28 billion) for Italian mobile operator 3 Italia. However, 3 Italia’s majority owner Hong Kong-based Hutchison Whampoa has reportedly said it is looking for EUR5 billion. In September 2007, Deutsche Telekom was linked as one possible buyer for the number four Italian mobile operator by subscribers, but no deal was forthcoming. Weather Investments already wholly owns Wind, Italy’s third-placed mobile operator.