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France: Orange says “no need for extra antitrust provisions”

 |  December 3, 2015

French telecoms company Orange said it doesn’t need to make extra provisions to cover a markets abuse case after a French daily reported it could face a fine of about 500 million euros.

Le Figaro reported that France’s antitrust watchdog could fine the telecoms operator EUR500 million for abuse of a dominant position in the fixed and mobile markets for business clients. Orange said in its third-quarter results it had set aside EUR413 million for litigation, up from a provision of EUR300 million in the previous quarter.

A spokeswoman for the competition authority declined to comment beyond confirming that a decision on the fine was likely to be made this year, “probably in the next two weeks.”

Full content: Market Watch

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