Heat olive oil in large nonstick skillet over medium-high heat and cook shrimp, garlic and lemon juice, turning shrimp once, until shrimp turn pink, about 4 minutes. Season, if desired, with salt and pepper. Remove from skillet and set aside.
Cook spinach in same skillet until spinach is wilted, about 1 minute. Remove from skillet and set aside.
Stir 1 1/2 cups water, milk and Knorr Selects™ Tomato & Parmesan Risotto into same skillet and bring to a boil. Cover and cook over medium heat 10 minutes. Stir in shrimp and spinach mixture; cover and let stand 2 minutes. Sprinkle, if desired, with thinly sliced basil.