The EU Commission has approved the sale of Telecom Italia's landline network to the investment firm KKR. After the sale of Telecom Italia's landline network had been on the table since last year, the telecommunications provider can now count this as a success. The news agency Reuters reported that the EU agreed to the takeover of the landline business by the US financial investor KKR on Thursday evening. According to the EU Commission, no conditions were imposed for the 24 billion US dollar transaction. Telecom Italia primarily uses the acquisition to pay off debt.

The acquisition was already agreed upon in 2023, but was delayed due to concerns from the main shareholder, Vivendi. The French media conglomerate criticized the takeover offer as being too low and expressed concerns about the viability of Telecom Italia's remaining business. Ultimately, however, Vivendi was outvoted.

The EU Commission sees no negative impact on the wholesale broadband access market in Italy from the acquisition and does not expect any significant competition issues, as the supranational body of the European Union stated according to Reuters.

The shareholders do not seem to approve, however. At times, the stock lost 6.8 percent on the Milan Stock Exchange and marked its daily low at 0.232 euros. Meanwhile, the losses have decreased to only 3.61 percent at 0.24 euros.

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