RBB

10 June 2024

EC approves KKR’s acquisition of Telecom Italia’s wholesale broadband business

KKR has completed its acquisition of NetCo, combining the primary fiber broadband network of Telecom Italia (“TIM”) with the secondary fiber network of FiberCop (a joint venture jointly controlled by TIM and KKR).  

On 30 May 2024, the European Commission (EC) granted unconditional clearance to KKR’s acquisition of NetCo following a Phase I investigation.  The integration of the primary and secondary fiber broadband assets did not raise concerns in the market for wholesale broadband access services in Italy.  This is because the EC found that (i) KKR would not have the ability to foreclose standalone access to its secondary fiber assets, and (ii) the integration does not raise the risk of coordination between wholesale broadband providers. 

RBB's team, led by Adrian Majumdar, Benoît Durand, and Dean Curry, worked alongside Simpson Thacher & Bartlett LLP.

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