KKR’s €22 Billion Telecom Italia Deal Wins EU Approval

EU sees no competition issues with landline network purchase
Deal aimed at slashing ex-monopoly Telecom Italia’s debt pile

Telecom Italia SpA headquarters in Milan, Italy. — Telecom Italia SpA headquarters in Milan, Italy.
Photographer: Federico Bernini/Bloomberg

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By Samuel Stolton and Daniele Lepido

May 30, 2024 at 3:20 PM UTC

Updated on

May 30, 2024 at 4:12 PM UTC

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KKR & Co. has won early European Union approval for its €22 billion ($23.8 billion) bid for Telecom Italia SpA’s land-line network, paving the way for a deal that sees the ex-phone monopolist cede control of its most valuable asset.

The European Commission said on Thursday that the deal was cleared without conditions or the need for an in-depth probe after its initial review revealed no competition concerns.