Brussels charges KKR over misleading NetCo merger information

The European Commission sent KKR a Statement of Objections on Monday, saying its preliminary view is that KKR, at least negligently, gave incorrect or misleading information about FiberCop's long-term wholesale access agreements during the 2024 review of its acquisition of Telecom Italia's NetCo network business.

Why it matters: Brussels cleared the deal unconditionally in May 2024 in reliance on those submissions, so KKR now faces a fine of up to 1 percent of worldwide turnover and, under the merger rules, possible revocation of the clearance itself.

Data as of Monday, October 19, 2026, 06:44 ET: the objections, the May 30, 2024 unconditional clearance, the July 24, 2025 investigation opened after operator complaints, and the 1 percent turnover fine ceiling are from the Commission's own press release ip_26_2178, read in full via a mirror of the release after the Commission page itself would not load. Reuters reported the network deal was worth up to 22 billion euros. Developing item.

The European Commission said on Monday that it had sent KKR a Statement of Objections setting out its preliminary view that the firm, at least negligently, submitted incorrect or misleading information on the terms of FiberCop’s existing long-term wholesale access agreements, including that their terms would continue to apply and could only be changed by mutual agreement. Brussels cleared KKR’s acquisition of NetCo, Telecom Italia’s primary and backbone network together with FiberCop, unconditionally on May 30, 2024, and says its clearance relied on those submissions. The Commission opened a formal investigation on July 24, 2025 after rival operators complained that FiberCop had unilaterally raised the prices they pay for network access, and KKR can now inspect the file, reply in writing and request an oral hearing.

Brussels charges KKR over misleading NetCo merger information

Sources