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European Commission Launches Investigation into KKR's Telecom Italia Deal
ByAinvest
Thursday, Jul 24, 2025 1:31 pm ET1min read
The European Commission has opened a formal investigation to determine if KKR provided incorrect or misleading information during its merger investigation of KKR's purchase of Telecom Italia's fixed line network. The investigation focuses on whether KKR misrepresented its intentions to maintain Telecom Italia's fiber network, which is a key aspect of the merger.
The European Commission has opened a formal investigation to determine if KKR & Co. Inc. provided incorrect or misleading information during the merger investigation of its purchase of Telecom Italia's fixed line network. The investigation, announced on July 24, 2025, focuses on whether KKR misrepresented its intentions to maintain Telecom Italia's fiber network, a key aspect of the merger.The Commission, which acts as the competition enforcer in the 27-country bloc, approved the deal unconditionally in May 2024, attributing this in part to long-term agreements between FiberCop and telecoms companies Fastweb and Iliad. FiberCop is Telecom Italia's last-mile grid unit. The investigation will assess whether KKR provided incorrect or misleading information about these agreements [1].
The regulator noted that the opening of a formal investigation doesn't prejudge its outcome. The Commission has in recent years cracked down on companies providing misleading information during merger reviews and handed out hefty fines [2].
The merger investigation concluded that the transaction wouldn't erode conditions for access to passive services, or terminate such access, because of long-term agreements between FiberCop and several access seekers. The EC studied the acquisition's impact on the market for wholesale broadband access services in Italy [3].
Investors and financial professionals should closely monitor this development, as it could have significant implications for KKR's financial performance and its future mergers and acquisitions.
References:
[1] Reuters. (2025, July 24). EU regulators investigate if KKR provided misleading information in Telecom Italia deal. Retrieved from https://www.reuters.com/legal/litigation/eu-regulators-investigate-if-kkr-provided-misleading-information-telecom-italia-2025-07-24/
[2] Seeking Alpha. (2025, July 24). EC to investigate whether KKR misled on Telecom Italia deal. Retrieved from https://seekingalpha.com/news/4471614-ec-to-investigate-whether-kkr-misled-on-telecom-italia-deal
[3] European Commission. (2025, July 24). The European Commission has opened a formal investigation to determine whether, during the merger investigation of the acquisition by KKR & Co. Inc. (‘KKR\') of NetCo, KKR provided incorrect or misleading information. Retrieved from https://ec.europa.eu/commission/presscorner/detail/en/ip_25_1893
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