EU Accuses KKR of Misinformation in €22 Billion Deal

The American investment group KKR provided misleading information to EU regulators while seeking approval for the acquisition of Telecom Italia's fixed network, valued at €22 billion, in 2024. The European Commission approved the deal after KKR assured that it would not worsen access conditions for third-party providers. However, a new investigation was launched last year due to complaints from operators about rising prices. EU Competition Commissioner Teresa Ribera noted that KKR provided deceptive information in response to inquiries about maintaining long-term agreements. KKR disagreed with the European Commission's findings and intends to appeal, emphasizing the accuracy of the information provided. Following the transfer of FiberCop under KKR's control, relations with major clients deteriorated due to wholesale access prices. FiberCop rejected accusations of declining service quality and defended its rates, citing government oversight. The disputes complicate KKR's efforts to turn FiberCop into a profitable business amid declining connections and debts.

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