Telecom Italia says EU sees no concentration risks in FiberCop project

MILAN, Nov 26 (Reuters) - The European Commission does not see any concentration risks linked to the proposed spin-off of Telecom Italia's (TIM) last-mile grid and a sale of a minority stake in it to U.S. investment firm KKR, the phone group said on Thursday.

In August TIM agreed to sell to KKR a 37.5% stake of a newly created company, dubbed FiberCop, into which it is transferring its 'last mile' network connecting street cabinets to people's homes.

"The European Commission decided that the operation ... cannot be considered a concentration under EU legislation and therefore does not need to be notified under the European Merger Regulation," it said in a statement.

"This is an important step towards the launch of FiberCop's operations, which is confirmed for the first quarter of 2021."

(Reporting by Agnieszka Flak, editing by Stephen Jewkes)