By Matthias Verbergt
Nordic telecommunications company Telenor Wednesday said Norway's competition authority has proposed imposing a NOK906 million ($106.2 million) fine for suspected breaches of competition regulations.
Telenor said it has received a draft decision from the Norwegian Competition Authority related to an alleged breach of the Norwegian Competition Act section 11, which prohibits any abuse of a dominant position.
The Authority alleges that Telenor has restricted competition in Norway through price terms and a double roaming prohibition in wholesale agreements from 2010 to 2014, the company said.
The proposed fineisn't a final decision, Telenor said. "This is a preliminary assessment," said Telenor Chief Executive Berit Svendsen in a statement. "We will review the notice in detail."
Although it doesn't agree with the Authority's findings, Telenor said it is cooperating, adding it expects it will "take some time" before the investigation is concluded.
Telenor was trading up 0.2% in early morning trade in Oslo.
Write to Matthias Verbergt at Matthias.Verbergt@wsj.com
(END) Dow Jones Newswires
November 23, 2016 04:26 ET (09:26 GMT)
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