BRUSSELSMILAN, May 30 Reuters U.S. investment firm KKR secured unconditional EU antitrust approval on Thursday for its up to 22billioneuro 24 billion acquisition of Telecom Italia39;s TIM fixedline network.

The deal is significant as it marks the first time that a former phone monopoly in a major European country is divesting its landline grid.

The European Commission39;s announcement confirmed a Reuters39; story last week.

The Commission investigated the impact of the transaction on the market for wholesale broadband access services in Italy and concluded that it would not significantly reduce the level of competition, the EU executive, which also acts as the EU antitrust watchdog, said in a statement.

TIM shares turned positive and closed Thursday39;s session 1.5 higher, reversing earlier losses following the Commission statement.

KKR has sought to address concerns of Telecom Italia39;s rivals about those rivals39; existing contracts put in place after the creation of FiberCop, Telecom Italia39;s lastmile grid unit, and has offered a pledge to keep them on the same terms and prices, people with direct knowledge of the matter have told Reuters.

This informal remedy has also allayed EU worries, they said.

The Commission said a master services agreement MSA that will govern the relationship between NetCo the grid acquired by KKR and TIM posttransaction is not an integral part of the transaction, as it is not an agreement through which KKR acquires control over…