August 30, 2012 / 10:53 AM / in 5 years

South Africa's Telkom to appeal $55 million competition fine

JOHANNESBURG (Reuters) - South African fixed-line operator Telkom SA (TKGJ.J) said on Thursday it would appeal a $55 million regulatory fine imposed for using its dominant market position to stifle potential competitors.

South Africa’s competition regulator this month slapped Telkom with a lighter-than-expected fine of 449 million rand ($55 million) over a longstanding complaint it blocked competition from other network service providers.

Telkom said in a statement it had filed notice that it would appeal the ruling. It will have 40 days to file the appeal, it said.

Reporting by David Dolan; Editing by Jon Herskovitz

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