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Portugal Telecom, Telefonica fined EUR 79 million by EU
2013-01-23 12:38:00| Telecompaper Headlines
(Telecompaper) Portugal Telecom and Telefonica have received a total fine of EUR 79 million from the European Commission as the result of a non-competition agreement by the operators. The European Commission said that the non-competition clause, valid from September 2010 to February 2011, was contrary to EU law, pointing out it will not tolerate anti-competitive practices by incumbent operators. The EC fined Portugal Telecom EUR 12.3 million and Telefonica EUR 66.9 million. The operators agreed to not compete against each other in Spain and Portugal when they reached agreement in 2010 for Telefonica to take full control of their Brazilian joint venture Vivo. The non-competition agreement was ended in 2011 when the EU opened its anti-trust investigation.
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Category:Telecommunications