EU, 'misleading or inaccurate information' from KKR on the acquisition of the TIM network

The Commission provided KKR with its preliminary opinion that the company provided incorrect and/or misleading information during the Commission's 2024 investigation into KKR's acquisition of NetCo. According to the Commission, KKR "provided incorrect and/or misleading information on the terms of its long-term agreements for access" to the fixed broadband network, "including the fact that the existing terms would continue to apply as they could only be modified by mutual agreement with third-party operators", explains Palazzo Berlaymont in a note.

On 19 April 2024, KKR notified to the Commission a transaction proposal relating to the acquisition of sole control over NetCo. NetCo includes Tim's primary and backbone fixed network business, as well as FiberCop.

The American fund responded by underlining that the information that KKR provided to the EU on the acquisition of Netco from Tim "is correct". Kkr "strongly disagrees with the preliminary assessment of the European Commission. We reiterate the correctness of the information provided during the examination, conducted by the Commission in 2024, relating to the acquisition of NetCo. We will vigorously contest these preliminary findings in our response to the Statement of Objections, while continuing to engage in a constructive dialogue with the Commission" explains a spokesperson, highlighting that "the Statement of Objections does not constitute a definitive finding of a violation and the authorization for the operation, already granted by the Commission, remains valid".