CK Hutchison Cancels Sale of €3.4 Billion Italian Network Unit

CK Hutchison Holdings Ltd. canceled the sale of a majority stake in its Italian network infrastructure portfolio to private equity firm EQT AB.

“Conditions precedent to closing of the transaction were not satisfied,” CK Hutchison said in a company filing on Tuesday.

CK Hutchison operates Wind Tre SpA in Italy, the country’s third largest mobile carrier. The deal had set an enterprise value for the network company of €3.4 billion (€3.7 billion).

Italy is one of the most competitive telecom markets in Europe, in part because of Iliad SA, which moved into the country in 2018 offering cheaper, ...