Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

On 19 April 2024, KKR & Co. Inc. (“KKR”) notified to the Commission its intention to acquire indirect sole control of NetCo, a company to be comprised of FiberCop S.p.A (“FiberCop”), which is currently jointly controlled by KKR and Telecom Italia S.p.A. (“TIM”), and the network business formed of certain assets of the fixed network assets and infrastructure, contracts, personnel and real estate of the network assets and infrastructure of TIM (“TIM Network Business”) that TIM will contribute to FiberCop within the meaning of Articles 3(1)(b) of Council Regulation (EC) No 139/2004.

The concentration will be accomplished by way of share acquisition and contribution of assets.

The business activities of the undertakings concerned are as follows:

a) KKR is incorporated in Delaware, United States. KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions.

b) NetCo is comprised of FiberCop and TIM Network Business. FiberCop is a company headquartered in Italy that currently provides passive-only secondary assets services on both its copper and fiber networks in Italy and whose mission was to upgrade TIM’s FttH secondary assets from copper to fiber in Italy. Post-Transaction, NetCo will continue to be operated as a combined business, and will provide, among others, wholesale fixed access services on both its copper and fiber networks in Italy.

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