Business · Companies · 2 hrs ago
EU says KKR may have misled regulators over Telecom Italia network deal
The European Commission says KKR may have misled regulators during its review of a telecoms deal.
The case concerns KKR’s 2024 acquisition of NetCo, TIM’s fixed-network business, which is now under FiberCop.
KKR told the Commission that existing long-term agreements for other operators to use the network would remain in force and could be changed only by mutual agreement.
The Commission approved the deal without conditions in May 2024, taking those statements into account.
Telecoms operators later complained that FiberCop had raised prices for network access under existing agreements.
Wholesale access terms affect competition and internet prices because rival providers use the network to serve customers.
After opening a formal investigation in July 2025, the Commission has reached the preliminary view that KKR gave inaccurate or misleading information at least through negligence; the finding is not final.
The European Commission said KKR may have provided inaccurate or misleading information during its 2024 review of its acquisition of NetCo, Telecom Italia’s fixed-line network business.
The Commission’s preliminary view concerns KKR’s statements about long-term wholesale access agreements for FiberCop’s network.
The Commission said it relied on KKR’s assurances when it approved the deal without conditions on May 30, 2024.
It opened a formal investigation on July 24, 2025, after complaints from third-party operators.
Those operators allege FiberCop later raised prices under existing agreements unilaterally.
- Who
- The European Commission said KKR may have provided inaccurate or misleading information.
- What
- The Commission issued a preliminary view concerning information KKR gave during its review of the NetCo acquisition.
- When
- The Commission announced its preliminary view on October 19, 2026. The original acquisition review was conducted in 2024.
- Where
- The deal concerned NetCo, an Italy-based company that includes Telecom Italia’s fixed-line network business and FiberCop.
- Why
- The Commission is examining whether KKR misrepresented the terms of long-term wholesale access agreements, including how those terms could be changed.
European Commission
KKR
Access-agreement terms
European Commission
The Commission’s preliminary view is that KKR gave inaccurate or misleading information about the terms of existing long-term agreements.
KKR
KKR had told the Commission that existing terms would remain in force and could not be changed unilaterally by FiberCop.
Deal approval
European Commission
The Commission says it relied on KKR’s explanations when it approved the deal without conditions.
KKR
KKR’s assurances helped address the Commission’s concerns during the 2024 review.
KKR notified the European Commission of its proposed acquisition of control of NetCo.
The Commission approved the transaction without conditions, taking account of KKR’s explanations.
The Commission opened a formal investigation following complaints from third-party operators.
The Commission communicated its preliminary view that KKR may have provided inaccurate or misleading information.
- Deal
- KKR acquisition of control of NetCo
- Approval date
- May 30, 2024
- Investigation opened
- July 24, 2025
- Company
- NetCo includes Telecom Italia’s fixed-line network business and FiberCop
- Issue under review
- Long-term wholesale access agreement terms for FiberCop’s network
4 sources
What people are saying
KKR provided inaccurate and/or misleading information about the terms of its long-term agreements for access
the existing terms would continue to apply because they could be changed only by mutual agreement with third-party operators