The European Commission has granted unconditional approval for the acquisition of NetCo by KKR & Co. Inc. (KKR) under the EU Merger Regulation. NetCo comprises the primary and backbone fixed-line network business of Telecom Italia S.p.A. (TIM), along with FiberCop S.p.A., a joint venture between TIM and KKR that includes TIM’s secondary fixed-line network. Following an extensive investigation, the Commission concluded that the transaction would not disrupt competition within the European Economic Area (EEA). The scrutiny focused on the impact on the wholesale broadband access services market in Italy, determining that KKR would not gain undue market power or restrict access, thereby preserving competitive balance. The decision also highlights a master services agreement (MSA) between KKR and TIM, further ensuring that no competitive detriment arises from the deal. The transaction was originally notified to the Commission on April 19, 2024, and has cleared the Commission’s merger control procedures.
Telecommunications, Private Equity, Regulatory Affairs,Italy, European Economic Area (EEA), United States
https://mergersacquisitions.einnews.com/article/716143045/tUcVdeHWTYMShJUw?ref=rss&ecode=Q1vNcweEggLWKz7L