Telkom Drops Appeal Of $49M S. African Antitrust Fine

Law360, New York (April 16, 2013, 6:16 PM EDT) -- Telkom SA Ltd. has dropped its appeal of a 449 million rand ($49 million) fine for abusing its dominant position in the South African telecommunications market after months of settlement talks with the country's antitrust watchdog, the company said Tuesday.

South Africa's Competition Tribunal slapped the telecom giant with the penalty in August when it agreed with the Competition Commission that Telkom had abused its dominance from 1999 to 2004, but refused to impose the stiffer 3.2 billion rand penalty the agency had requested.

Both Telkom...
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