The European Commission has opened an in-depth phase 2 investigation into the proposed joint venture between the telecommunications activities of Hutchison and VimpelCom in Italy. The transaction would combine Vimpelcom's subsidiary WIND with Hutchison's subsidiary H3G, respectively the third and fourth largest operators in the Italian retail mobile telecommunications market, reducing the number of operators from four to three. It would also create the largest player in terms of the number of subscribers, followed by two similar-sized mobile network operators, TIM and Vodafone. Click here.