EU Rips Telefonica, Portugal Telecom’s Noncompete Deal

Law360, New York (October 25, 2011, 2:18 PM EDT) -- The European Commission on Tuesday lashed out at Telefonica SA and Portugal Telecom, blasting an alleged agreement between the two global telecom companies not to compete with each other in their home markets of Spain and Portugal.

Statements of objection were sent to both companies by the EC, which said it believes the two telecom operators’ noncompete deal stifles competition in violation of European Union antitrust rules.

The EC alleges that an agreement was reached between the two former state telecom companies in 2010 after Telefonica...
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