Spain's Telefonica is fined 500,000 euros by regulator

MADRID Mon Feb 10, 2014 5:34am EST

MADRID Feb 10 (Reuters) - Spain's leading telecoms operator Telefonica was fined 500,000 euros on Monday for what the regulator classed as two "very serious" breaches of competition rules in its home market.

Telefonica failed to make a timely notification to the competition authority, the CNMC, of the prices and conditions of new internet and television packages, as it is required to as a dominant market operator.

In a statement, the CNMC said the rules were necessary to allow it to ensure a level playing field for other operators.

Telefonica was also found to have blocked access to 11 premium text message numbers being run by another company.

Telefonica is facing growing competition in its home market as cash-strapped Spaniards shop around for cheaper internet and phone offers. (Reporting By Sarah Morris; Editing by Fiona Ortiz)

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