European Union antitrust regulators again imposed fines totaling 79 million euros (about $ 89 million) on Tuesday. Telephony and Pharol, formerly known as Portugal Telecomafter the previous sanctions were rejected in 2018 by the highest European court.
Telefónica’s new fine amounted to 66.89 million euros, the same amount as that imposed in 2013, while Pharol was fined 12.15 million, slightly less than the 12.29 million in 2013, said the European Commission it’s a statement.
The governing body of the European Union fined both companies in 2013 for an illegal agreement not to compete with each other in the Iberian telecommunications markets.
The companies then argued in court that the regulators were wrong in calculating the amount of the fine for the markets in which they do not compete with each other.
The Court of Justice of the European Union and the General Court held that they had violated the competition rules, but supported their arguments over the amount of the fine, which forced the regulators to reevaluate the case.
“Today’s decision fully takes into account the ruling of the General Court,” said the EU executive, who acts as the bloc’s competition regulator.