MOSCOW, Dec 23 (Reuters) - Vimpelcom, Russia's thirdlargest mobile telecoms network operator, is consideringselling, merging or refinancing its Italian unit Wind, which hasdebts of around $14 billion, the Financial Times newspaper saidon Monday.
The company has been in discussions with Hong Kong-basedHutchison Whampoa, which owns 3 Italia, the papersaid, citing sources familiar with the situation.
But the talks did not progress as far as negotiations on adeal, it added.
Telecom Italia is the leading player in Italy'smobile phone market, followed by Vodafone Italia,Vimpelcom's Wind and Hutchison Whampoa's 3 Italia and there haslong been speculation that companies will seek to consolidate inthe face of fierce price competition.
Earlier this year Hutchison Whampoa tried but failed to do adeal with Telecom Italia, which also rejected approaches made byWind's former owner Naguib Sawiris, the Egyptian businesstycoon.
Vimpelcom, part-owned by Mikhail Fridman's Altimo andNorway's Telenor, bought a 51 percent stake inEgypt-based Orascom Telecom and all of Italy's Wind in2011 for $6 billion.
Vimpelcom and a spokesman for the Italian mobile unit ofHutchison Whampoa did not respond to requests for comment.
Vodafone (VOD)