November 7, 2019 / 12:55 PM / 5 days ago

Telefonica to appeal 6 mln euro fine by Spain's antitrust watchdog

MADRID, Nov 7 (Reuters) - Telefonica said on Thursday it would appeal a 6 million euro ($6.7 million) fine lodged by Spain’s antitrust watchdog CNMC over accusations of discriminating against competitors when carrying out repairs on its high-speed networks.

The company said it planned to appeal the fine in Spain’s High Court, adding in a statement that it had detected “some biases” in the regulator’s investigation.

The Spanish telecoms group, which owns telecommunications networks throughout the country, is obliged to share the grid with competitors at regulated rates and under terms set out by the CNMC.

Telefonica was fined for delays, dating back to 2017 and 2018, on repairs when answering breakdowns on telecommunications networks rented to competitors, the CNMC said in a statement earlier on Thursday.

Telefonica shares were up 1% in afternoon trading on Thursday, outperforming Spain’s blue chip Ibex index, up 0.26%. ($1 = 0.9018 euros) (Reporting by Emma Pinedo and Ashifa Kassam, editing by Andrei Khalip and Susan Fenton)

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