KKR charged with misleading EU regulators over Telecom Italia network deal
KKR•The European Commission charged KKR with providing incorrect or misleading information during its review of the €22 billion acquisition of Telecom Italia's fixed-line network. KKR disputes the assessment; companies found guilty of misleading regulators risk fines of up to 1% of worldwide annual turnover.
1. Commission issues charges
The European Commission sent KKR a statement of objections alleging it provided incorrect or misleading information about whether it would keep existing long-term access agreements under the same terms unless the parties mutually agreed otherwise. The Commission approved KKR's €22 billion acquisition of Telecom Italia's fixed-line network in 2024 and opened an investigation a year later following complaints from other operators.
2. KKR disputes assessment
KKR said it strongly disagreed with the Commission's assessment and stood by the accuracy of the information it provided during the 2024 review. It said the statement of objections is not a final finding of infringement and that the Commission's clearance remains valid. KKR can defend itself at a closed hearing in the coming months before the Commission issues a final decision; companies found guilty of misleading regulators risk fines of up to 1% of their aggregate annual worldwide turnover.
