EU Says KKR Might Have Misled It Over Telecom Italia Deal

3-line summary

• The European Commission said Monday its preliminary finding is that KKR, at least negligently, submitted incorrect and/or misleading information to the Commission regarding whether existing long-term wholesale access contract terms would continue to apply, in connection with KKR's up-to-22-billion-euro ($24.7 billion) acquisition of Telecom Italia's (TIM) fixed-line network, which the Commission approved in 2024.
• The Commission opened a new investigation in 2025 after other telecom operators complained that TIM's fixed broadband wholesale access prices were unilaterally raised following the acquisition; at the time of the 2024 approval, KKR had told the Commission it lacked authority to worsen wholesale access terms, according to the report.
• The Commission has now sent a preliminary statement of objections to KKR, which will have the opportunity to respond; the article did not specify potential fines or sanctions, nor a timeline for next steps.

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