Telefonica to appeal EU fine for collusion
MADRID (Reuters) - Spain's Telefonica said on Wednesday it disagreed with a fine by European Union antitrust regulators on its competition agreements with Portugal Telecom and would appeal the decision with the Luxembourg-based EU Court of Justice.
The European Commission said it was fining Telefonica 79 million euros ($104.96 million) and Portugal Telecom 12 million euros for agreeing not to compete against each other in the Iberian telecoms market.
(Reporting By Tracy Rucinski; Editing by Fiona Ortiz)
© Thomson Reuters 2014 All rights reserved.