The European Commission (EC) has launched an investigation into KKR over whether the company provided “incorrect or misleading information” about the market impact of its €22 billion ($25.8bn) deal to buy Telecom Italia's (TIM) fixed network, NetCo, last year.

As reported by the Financial Times, the EC, which oversees antitrust rules in the European Union, said the investigation will focus on the information KKR provided relating to the deal’s impact on “wholesale broadband access services in Italy."

"Under the investigation opened today, the Commission will assess whether KKR provided incorrect or misleading information about these agreements," said the European Commission in a statement.

As part of the rules for the EU, merging parties must not provide incorrect, incomplete, or misleading information to the Commission.

KKR has said that it will work with the Commission to address any concerns.

In a statement, KKR said that it has "worked with the European Commission in good faith and provided specific and accurate information."

The deal was pushed through by the EC due to long-term agreements between NetCo-owned FiberCop and telcos Fastweb and Iliad.

The deal, which was finalized in July of last year, was approved by both the EC and the Italian government.

A deal was finally struck after months of talks in November 2023, despite vocal backlash from Vivendi, the biggest shareholder in TIM.

Vivendi had called the deal "unlawful" after the deal was approved without a vote being held by shareholders.

Earlier this year, FiberCop chief executive Luigi Ferraris left the company abruptly. The FT reports this was over disagreements with KKR over a potential earnings hole at the company.