12:19 PM EDT, 05/30/2024 (MT Newswires) -- (Updates with additional details in the third paragraph and MT Newswires' attempt for comment in the last paragraph)

KKR (KKR) received unconditional approval from the European Commission for its acquisition of NetCo, which includes primary and backbone fixed-line network business of Telecom Italia and FiberCop, the regulator said Thursday.

The transaction will not raise competition concerns in the European Economic Area and will not significantly reduce level of competition in the wholesale broadband access services in Italy, according to the commission.

KKR's acquisition will not restrict infrastructure access while existing agreements prevent access deterioration, the European regulator added.

Neither KKR nor NetCo immediately responded to MT Newswires' requests for comment.

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