EU Accuses KKR of Possible Misleading Data in €22B Telecom Italia Deal

The European Commission has formally accused KKR of possibly providing incorrect or misleading information during its 2024 acquisition of Telecom Italia’s fixed-line network, a deal valued at up to €22 billion. The Commission’s preliminary concern is that KKR’s disclosures about existing long-term wholesale-access agreements did not accurately explain whether their terms would remain in force after the acquisition. Rival operators later complained that access prices had increased, despite assurances given during the EU’s review that wholesale-access conditions would not worsen. KKR can respond to the objections before the Commission decides whether to impose a penalty.