EU Court Rejects Telefonica's Challenge To $202M Antitrust Fine

Law360, New York (March 29, 2012, 1:25 PM ET) -- Spanish telecommunications giant Telefonica SA on Thursday failed in its bid to escape a $202 million fine levied against it by the European Union's antitrust watchdog, which found the company had abused its dominant market position.

The EU's second-highest court agreed with the European Commission's 2007 findings that Telefonica had operated a margin squeeze — charging its competition excessive prices to access Telefonica's massive broadband network, which forced rivals to either charge inflated retail prices or take losses.

The General Court rejected Telefonica's argument that commission...
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