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EC fines Deutsche Telekom EUR 69.8 million
2014-10-16 09:03:00| Telecompaper Headlines
(Telecompaper) The European Commission has imposed a fine of EUR 38.838 million on Slovak Telekom and its parent Deutsche Telekom for having pursued during more than five years an abusive strategy to shut out competitors from the Slovak market for broadband services. The conclusion came after an in-depth investigation which started in 2009 for Slovak Telekom and in December 2010 for Deutsche Telekom. In particular, the EC concluded that Slovak Telekom refused to supply unbundled access to its local loops to competitors, and imposed a margin squeeze on alternative operators. Deutsche Telekom as parent company with decisive influence is also responsible for the conduct of its subsidiary; it is therefore jointly and severally liable for Slovak Telekom's fine. Deutsche Telekom also received an additional fine of EUR 31.07 million to ensure sufficient deterrence as well as to sanction its repeated abusive behaviour (recidivism) as it had already been fined in 2003 for a margin squeeze in broadband markets in Germany.
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Ingredion to acquire Penford for approximately $340 million
2014-10-16 00:30:12| Chemicals - Topix.net
Westchester, Ill.-based Ingredion Inc., a global ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients, entered into a definitive agreement to acquire Penford Corp., a Centennial, Colo.-based leader in specialty ingredients for food and non-food applications. The purchase price of approximately $340 million represents a synergy-adjusted earnings before interest, taxes, depreciation and amortization multiple of approximately seven times on an enterprise-value basis.
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Netflix adds 3 million members in 3Q 2014
2014-10-15 23:00:56| Digital TV News
Netflix (NASDAQ: NFLX) has released third-quarter 2014 results. In the quarter Netflix added over 3 million members - around 1 million in the U.S. and 2 million internationally - ending Q3 with 53.1 million global members.
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Deutsche Telekom fined $88 million by EU over antitrust breach
2014-10-15 21:23:14| Telecom - Topix.net
The European Commission's antitrust unit is fining Deutsche Telekom AG and its subsidiary Slovak Telekom a.s. a total of a 69.9 million for shutting out rivals from the Slovak market for broadband services for more than five years, in breach of EU antitrust rules, the commission said in a statement Wednesday. The total consists of two fines: one of a 38.8 million on Slovak Telekom and its parent company, Deutsche Telekom , for refusing to give access to the so-called local loop or "last mile," the final section of the network which joins telecoms cables to subscribers' homes, and an additional a 31 million fine for Deutsche Telekom alone, because it is a repeat offense after similar tactics in 2003 in Germany.
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I&M plans $787 million overhaul
2014-10-15 20:15:12| Energy - Topix.net
A proposed $787 million infrastructure plan by Indiana Michigan Power would greatly overhaul the utility's distribution system, officials said.
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