By Dominic Chopping

 

Norwegian telecom provider Telenor ASA said Tuesday it has received a 111.95 million euro ($126 million) fine from the European Free Trade Association Surveillance Authority for mispricing mobile broadband, a decision it will appeal.

The fine relates to Telenor's pricing of mobile broadband to residential customers between 2008 and 2012. The EFTA claims Telenor engaged in anti-competitive practices by selling the product at insufficient margins between Telenor's wholesale prices and the prices it charged to customers, so-called margin squeeze practices.

"We are very surprised by the decision and the size of the fine," said Telenor Norway's managing director, Petter-Borre Furberg.

"We will review the decision thoroughly and are preparing to appeal the decision to the EFTA Court", Mr. Furberg said.

The EFTA Surveillance Authority monitors compliance with European Economic Area rules in Iceland, Liechtenstein and Norway, enabling them to participate in the European Internal Market.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

June 30, 2020 04:10 ET (08:10 GMT)

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