(Alliance News) - The European Commission on Thursday approved without conditions under the EU Merger Regulation the acquisition by KKR & Co. Inc. of NetCo, which includes the primary fixed network and backbone businesses of Telecom Italia Spa and FiberCop Spa. FiberCop is a joint venture between TIM and KKR that includes TIM's secondary fixed network.

"The Commission has concluded that the transaction does not raise competition concerns in the European Economic Area," reads the note issued by the commission.

The commission examined the transaction's impact on the market for wholesale broadband access services in Italy and concluded that it will not significantly reduce the level of competition.

TIM's stock closed up 1.6 percent at EUR0.25 per share.

By Chiara Bruschi, Alliance News reporter

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