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EU Charges KKR Over Telecom Italia Deal Misinformation
19 Oct
Summary
- KKR faces EU antitrust charges for misleading regulators on a €22 billion deal.
- The EU alleges KKR provided incorrect information about access agreements.
- KKR could face a fine up to 1% of its annual worldwide turnover.
The European Commission has issued antitrust charges against KKR, alleging the US private equity firm misled regulators during its review of the €22 billion acquisition of Telecom Italia's fixed-line network. This development, occurring on Monday, October 19, 2026, could result in substantial fines for KKR.
The EU competition enforcer's decision stems from a year-long investigation. While the deal was approved in 2024, a subsequent investigation was opened after other operators raised concerns. These rivals claimed that KKR unilaterally increased prices for access to TIM's fixed broadband network after the acquisition, contradicting KKR's earlier assurances that it would not degrade wholesale access conditions.
The Commission's statement of objections indicates that KKR provided inaccurate or misleading information concerning its commitment to maintain existing long-term access agreements under the same terms, unless mutually agreed otherwise with third-party operators. The approval of the Telecom Italia deal had partially relied on these agreements between FiberCop, TIM's last-mile grid unit, and telecoms companies Fastweb and Iliad.
Companies found guilty of providing false or misleading information during regulatory reviews face potential fines of up to 1% of their aggregate annual worldwide turnover. The Commission has a history of imposing significant penalties for such violations.
