Telenor NOK788 Million Fine Upheld by Competition Regulator
June 19 2019 - 1:25PM
Dow Jones News
By Oliver Griffin
Telenor ASA (TEL.OS) on Wednesday said the Norwegian Competition
Authority has upheld an administrative fine against the company in
a split decision.
The fine of 788 million Norwegian kroner ($90.2 million) was
first issued to the Norwegian telecommunications company in June
2018. It was handed down after the competition authority found that
Telenor's pricing model in their wholesale agreement restricted
competition in the Norwegian market.
Telenor said its opinion was that the agreement with Network
Norway neither limited competition nor the development of a third
network, and the price model was legal.
One of three members of the Competition Complaint Board agreed
with Telenor and voted in favor of the company, Telenor said.
Chief Executive Petter-Borre Furberg said: "We are disappointed
not to have been heard, but we note that the minority finds the
agreement to be legal. We will now review the decision
thoroughly."
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
June 19, 2019 13:10 ET (17:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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