Telefónica fined €500,000 for competition rule breaches

Telefónica fined €500,000 for competition rule breaches

Spanish conglomerate Telefónica was today fined €500,000 by the country’s regulator, Reuters reports.

The regulator fined the operator for two allegedly “very serious” breaches of competition rules in its home market.

As a dominant operator in Spain, Telefónica is required to notify the competition authority (CNMC) of the prices and conditions of any new internet and television packages, in order to maintain a level playing field.

Telefónica failed to do so and was also found to have blocked access to 11 premium text message numbers being run by another company.

This is a further setback for the indebted Spanish operator which earlier this month was eyeing the acquisition of Mexican operator Iusacell, as part of a strategy to grow its presence in Latin America.

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