Home Europe KKR skips early EU concessions in Italian telecoms deal

KKR skips early EU concessions in Italian telecoms deal

by editor

KKR didn’t offer early-stage concessions in the European Commission’s review of its takeover of TIM’s Italian telecoms network.

Officials can now choose to clear the deal unconditionally or open a longer review. Reuters reported that the deal was set for unconditional approval by a May 30 deadline.

Commission spokesperson Lea Zuber confirmed that the deal website was up to date in showing that the companies didn’t make any concessions by a Thursday deadline.

KKR declined to comment and TIM didn’t respond to a request for comment.

KKR agreed last year to buy fixed assets belonging to the former Telecom Italia in a deal that valued the network at up to €18.8 billion, according to a November statement. The company is aiming to complete the deal this summer.

Regulators last month quizzed telecoms rivals about how the deal might affect wholesale prices and network quality.

KKR is the main shareholder of POLITICO’s owner Axel Springer.

This article has been updated with Commission comment.

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