Telenor Appeal to Overturn $87.8 Million Fine Is Rejected by Norwegian Court
November 26 2021 - 12:53PM
Dow Jones News
By Joe Hoppe
Telenor ASA said Friday that its appeal to the Norwegian Supreme
Court to overturn a 788 million kroner ($87.8 million) fine from
the country's market regulator has been rejected.
The Norwegian telecomms provider said that the Norwegian
Competition Authority decided to impose the fine in a 2018 verdict,
concerning a pricing model in a wholesale agreement between Telenor
and Network Norway between 2010 and 2014.
Telenor said that Gulating Appeal Court upheld the decision and
it appealed the verdict to the Supreme Court, though that has now
been rejected.
The fee will be recognized in the fourth quarter of the year and
classified as "other items," the company said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
November 26, 2021 12:38 ET (17:38 GMT)
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