The European Commission has issued a Statement of Objections alleging that KKR provided incorrect or misleading information during its antitrust review of the U.S. investment firm’s €22 billion acquisition of Telecom Italia’s fixed-line network, NetCo. The Commission says KKR may have breached procedural rules by misrepresenting the terms of wholesale access for rival operators.
The allegations are separate from the deal’s unconditional approval in May 2024. The probe focuses solely on the accuracy of the information KKR provided during the review.
If the Commission finds that KKR intentionally or negligently supplied misleading information, the firm could face a fine of up to 1% of its total annual worldwide turnover. KKR says it disagrees with the allegations and will cooperate with the Commission.