REFILE-UPDATE 1-Watchdog fines Swisscom for overcharging

Thu Nov 5, 2009 6:04am EST

(Refiles to fix competition commissions official abreviation to ComCo)

* Swiss competition authority imposes 220 mln Sfr fine

* Swisscom to appeal ruling

* Swisscom says made no provision for fine

(Adds details, background)

ZURICH, Nov 5 (Reuters) - Switzerland's competition watchdog ComCo fined Swisscom (SCMN.VX) 220 million Swiss francs ($215 million), saying the group abused its market dominant position when setting prices for internet connection services.

Telecoms group Swisscom had overcharged its competitors for services they needed to offer ADSL internet connection to their customers, the Competition Commission said.

"The Competition Commission is of the opinion that Swisscom occupies a market-dominant position in the broadband market and that until the end of 2007 the prices that it charged for broadband connectivity services were too high," Swisscom said.

Swisscom, the former monopolist still majority owned by the government, said it would contest the ruling.

The company said it was confident of winning an appeal and is therefore not setting aside any provisions.

(Reporting by Sven Egenter; Editing by Erica Billingham)

($1=1.025 Swiss Franc)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.