Telefonica to appeal EU fine for collusion

Wed Jan 23, 2013 10:44am EST
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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)

Reflections are seen on a logo of Spain's telecommunications giant Telefonica in Madrid December 3, 2012. REUTERS/Andrea Comas