EU reimposes $89 mln antitrust fine against Telefonica, Portugal Telecom

Pharol SGPS SA

25/01/2022 13:51

BRUSSELS, Jan 25 (Reuters) - EU antitrust regulators on
Tuesday reimposed fines worth 79 million euros ($89 million)
against Telefonica  TEF.MC  and Pharol, formerly known as
Portugal Telecom, after previous antitrust fines were rejected
by Europe's top court in 2018.
    Telefonica's new fine totalled 66.89 million euros, the same
amount as that imposed in 2013, while Pharol was fined 12.15
million, slightly lower than 2013's 12.29 million, the European
Commission said in a statement. 
    The EU watchdog had fined the pair in 2013 for an illegal
deal not to compete with each other in the Iberian
telecommunications markets.
    The companies then argued in court that regulators had erred
in calculating the fine amount for markets where they did not
compete with each other. 
    The EU Court of Justice and General Court found they had
breached antitrust rules but backed their arguments about the
size of the fine, forcing regulators to re-assess the case.
    "Today's decision takes full account of the General Court's
judgment," the EU executive, which acts as the competition
enforcer for the bloc, said.
    
    
    ($1 = 0.8872 euros)

 (Reporting by Foo Yun Chee
Editing by Alexandra Hudson)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))