The EU’s anti-trust regulator has fined the incumbent Spanish telco Telefónica €151.9 million for uncompetitive behaviour. According to EU competition commissioner Neelie Kroes, the amount is so high – second only a record €497 million fine previously imposed on Microsoft – as the company knew it was breaking antitrust laws. Telefónica has effectively been found guilty of charging excessive wholesale prices for broadband services to alternative providers, thereby holding back the rollout of services across the country between 2001-6. The Spanish regulator CMT has previously investigated Telefónica and earlier this week criticised the EU authorities ahead of the punishment imposed on Telefónica.
