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Antitrust regulators in the EU are checking if the deal between KKR and Telecom Italia could lead to a larger impact on Italy’s wholesale network market. This comes as KKR is buying Telecom Italia’s domestic landline network for ~$23.5bn. Telecom Italia’s landline network covers almost 89% of Italy’s households with the sale of the gridline being done to help cut down debt. The Italian government had cleared the deal earlier this year despite the deal involving strategic assets. The Italian government has taken a 20% stake in the network alongside KKR in order to have a say in strategic decisions.
Telecom Italia’s EUR-denominated bonds traded stable with its 6.875% 2028s at 105.76, yielding 5.10%.
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