Telefonica Appeals €151.9 Million Fine

Law360, New York (September 11, 2007, 12:00 AM EDT) -- Spanish telecom company Telefónica has appealed the landmark €151.9 million fine levied by European Commission competition regulators, calling the penalty “unjust and disproportionate.”

In the appeal, filed with the European Court of First Instance on Monday, Telefónica argues that the Commission relied on economic and judicial errors when imposing the fine.

“Telefónica contests the decision’s legal, economical and market analysis, and underlines that it has fully complied with the existing regulation imposed by the Spanish authority, the Comisión del Mercado de las Telecomunicaciones (CMT),” the company...
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