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U.S. investment company KKR's proposed buyout of Telecom Italia's (TIM) fixed-line access network will be decided by EU antitrust regulators by May 30, according to a European Commission filing on Friday. The former phone monopoly said earlier on Friday that KKR had sought approval from the EU competition enforcer for the proposed deal. The Commission can clear the deal with or without remedies during its preliminary review or it can open a four-month long investigation after the initial scrutiny if it has serious concerns.
Teamsters local unions in three states filed unfair labor practice charges against PepsiCo with the U.S. National Labor Relations Board, the union said on Friday. The charges were filed by five Teamsters local unions in the states of Illinois, Indiana and Iowa over PepsiCo's work rules that prohibit workers from discussing wages, hours, or other terms or conditions of employment, according to the union. PepsiCo did not immediately respond to a request for comment.