Telkom’s sales up, profits down

The European Commission (EC) has sent a Statement of Objections (SO) to Spanish telecoms giant Telefonica and Portuguese incumbent Portugal Telecom (PT) regarding their alleged ‘non-compete’ agreement, under which the two behemoths agreed not to compete within one another’s domestic telecoms markets. The EC has adopted a preliminary view that the agreement hinders competition in breach of European Union (EU) antitrust rules that prohibit restrictive business practices [More]

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