Prior notification of a concentration (Case M.10210 — KKR/Telefónica/Infraco) Candidate case for simplified procedure (Text with EEA relevance) 2021/C 120/04
Date: 2021-04-08
Institutions: Directorate-General for Competition, European Commission
Subjects: credit institution, economic concentration, energy industry, investment company, merger control, real estate business, telecommunications, transnational corporation








C_2021120EN.01000501.xml










8.4.2021   


EN


Official Journal of the European Union


C 120/5






Prior notification of a concentration
(Case M.10210 — KKR/Telefónica/Infraco)
Candidate case for simplified procedure
(Text with EEA relevance)
(2021/C 120/04)

1.   
On 26 March 2021, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






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KKR & Co. Inc. (‘KKR’, USA)










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Telefónica, SA (‘Telefónica’, Spain)










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Infraco S.p.A. (‘Infraco’, Chile).




KKR and Telefónica acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Infraco.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:






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for KKR: global investment firm that manages multiple alternative asset classes including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds, offering a broad range of investment management services to fund investors and provides capital markets solutions to the firm, its portfolio companies and third parties.










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for Telefónica: global telecommunications company headquartered in Madrid, Spain, which operates fixed and mobile communication networks. It offers mobile, landline, internet and television services under a number of brands, including Movistar, O2 and Vivo. Telefónica is listed on the Madrid, New York, and Lima Stock Exchanges.










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for Infraco: company headquartered in Chile which was incorporated in January 2020 by Telefónica Chile S.A., a company part of the Telefónica group, to operate Telefónica Chile S.A.’s fiber network in Chile. Specifically, Infraco’s business will consist of building, operating and marketing fiber optic network infrastructure for the provision of wholesale telecommunications services in Chile. Infraco will exclusively operate in Chile and has no intention to enter into the EEA.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.10210 – KKR/Telefónica/Infraco
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 22964301
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.