04:45 AM EDT, 05/28/2024 (MT Newswires) -- (Updates with KKR declining to comment in the last paragraph.)

KKR & Co ( KKR ) is set to gain unconditional EU antitrust approval to acquire Telecom Italia's fixed-line network in a 22-billion-euro ($23.85 billion) deal once it agrees to maintain existing commercial contracts with Telecom Italia competitors, Reuters reported Friday, citing unnamed people with direct knowledge of the matter.

The potential deal will mark the first time that a major telecoms operator in a big European country divests its landline grid, according to Reuters. The company did not offer remedies by its Thursday deadline, based on the latest update on the European Commission's website, although an agreement on this issue is expected to address EU concerns without the need to do so, the sources said.

The EC set a May 30 deadline for preliminary review of the deal.

KKR declined to comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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