London, 07 August 2015 -- Moody's Investors Service said today that the announced decision by VimpelCom Ltd (VimpelCom, Ba3 stable) and CK Hutchison Holdings Limited (A3 stable) to combine VimpelCom's 100% owned Italy-based telecom asset Wind Telecomunicazioni S.p.A's (Wind, B2 corporate family rating (CFR)) and Hutchison's 100%-owned wireless operator 3-Italia under a 50/50 owned joint venture (JV) is credit neutral for VimpelCom's ratings.

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