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Telefonica SA To Appeal European Union Fine For Collusion-Reuters

Wednesday, 23 Jan 2013 10:41am EST 

Reuters reported that Telefonica SA announced that it disagreed with a fine by the European Union antitrust regulators on its competition agreements with Portugal Telecom SGPS SA and would appeal the decision with the Luxembourg-based European Union Court of Justice. The European Commission said it was fining Telefonica SA EUR 79 million ($104.96 million) and Portugal Telecom SGPS SA EUR 12 million for agreeing not to compete against each other in the Iberian telecoms market. 

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