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Friday, October 17, 2014

Deutsche Telekom hit with €70,000,000 EU margin squeeze EU fine in Slovakia

UPDATE 1-Deutsche Telekom hit with $88 mln EU antitrust fine | Reuters: Note that Telekom is the incumbent former monopolist in Slovakia - naughty monopoly:

"In addition to a €38.8m joint fine with Slovak Telekom, German telecoms provider Deutsche Telekom was hit with a €31.1m penalty as this was its second margin squeeze offence.

Deutsche Telekom holds a 51% stake in Slovak Telekom, with the Slovak government owning the remainder.

Reuters reported on June 24 that the two companies would be penalised by the European Commission.

The EU competition authority said Slovak Telekom's strategy between August 2005 and December 2010 harmed both consumers and competitors.

 "Slovak Telekom did not only refuse to give access to its unbundled local loops under fair conditions. It also pursued a margin squeeze policy which made it impossible for alternative operators to use its legacy telephone network infrastructure without incurring a loss," European Competition Commissioner Joaquin Almunia said in a statement." 'via Blog this'

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