Telenor: Norway Regulator Proposes NOK906 Million Fine for Alleged Breach of Competition Rules
November 23 2016 - 4:41AM
Dow Jones News
By Matthias Verbergt
Nordic telecommunications company Telenor Wednesday said
Norway's competition authority has proposed imposing a NOK906
million ($106.2 million) fine for suspected breaches of competition
regulations.
Telenor said it has received a draft decision from the Norwegian
Competition Authority related to an alleged breach of the Norwegian
Competition Act section 11, which prohibits any abuse of a dominant
position.
The Authority alleges that Telenor has restricted competition in
Norway through price terms and a double roaming prohibition in
wholesale agreements from 2010 to 2014, the company said.
The proposed fine isn't a final decision, Telenor said. "This is
a preliminary assessment," said Telenor Chief Executive Berit
Svendsen in a statement. "We will review the notice in detail."
Although it doesn't agree with the Authority's findings, Telenor
said it is cooperating, adding it expects it will "take some time"
before the investigation is concluded.
Telenor was trading up 0.2% in early morning trade in Oslo.
Write to Matthias Verbergt at Matthias.Verbergt@wsj.com
(END) Dow Jones Newswires
November 23, 2016 04:26 ET (09:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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