EUROPEAN COMMISSION

DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004

MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION

Date: 22/02/2023

In electronic form on the EUR-Lex website under document number 32023M10991

EUROPEAN COMMISSION

Brussels, 22.2.2023 C(2023) 1379 final

PUBLIC VERSION

Global Infrastructure Management, LLC 1345 Avenue of the Americas th 30Floor 10105 New York, NY United States of America

KKR & Co. Inc. 18 Hanover Square W1S 1JY London United Kingdom

Vodafone Group Plc One Kingdom Street Paddington Central W2 6BY London United Kingdom

Dear Sir or Madam,

1.1. On 30 January 2023, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which the undertakings Global Infrastructure Management, LLC (“GIP”, United States of America), KKR & Co. Inc. (“KKR”, United States of America), and Vodafone Group Plc (“Vodafone”, United Kingdom) will acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of the undertaking Vantage Towers AG (“Vantage Towers”, Germany), currently solely controlled by Vodafone by way of purchase of shares.

1OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3Publication in the Official Journal of the European Union No C 46, 7.2.2023, p. 70-71.

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111

2. The business activities of the undertakings concerned are the following:

- GIP: a global infrastructure fund manager primarily focused on investing in transportation, energy, waste and digital infrastructure sectors,

- KKR: a global investment firm, offering alternative asset management as well as capital markets and insurance solutions,

- Vodafone: a multinational telecommunications operator, primarily active in the provision of mobile telecommunication services,

- Vantage Towers: a provider of telecommunication infrastructure hospitality services for customers such as mobile network operators and broadcasters in a number of Member States and the United Kingdom.

3.3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(b) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

4.4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

OJ C 366, 14.12.2013, p. 5.

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