EC Hits Telefonica With €152M Fine

Law360, New York (July 3, 2007, 12:00 AM EDT) -- The European Commission has fined Spanish telecommunications company Telefonica SA €152 million for abusing its dominant position, the largest fine handed down in the Commission's crusade against anti-competitive behavior in the telecom industry.

EC regulators on Wednesday fined the company for charging wholesale prices for broadband Internet access that prevent rival companies from competing fairly for customers.

“Spanish consumers are paying far more than the average for high-speed Internet access and many have chosen not to pay that price,” said Competition Commissioner Neelie Kroes. “The margin...
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