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South Africa: Telkom agrees to $20M fine, major breakup of services

 |  June 14, 2013

Telecommunications giant Telkom has reportedly agreed to pay a more than $20 million fine issued by South Africa’s Competition Commission. Further, the company has also agreed to a sweeping settlement that sees the company separate its retail and wholesale businesses as well as agree to certain price commitments for the next half decade. The Commission will also be monitoring the company’s businesses practices from now on. The settlements put to rest a case initiated in 2005 by the competition watchdog, accusing the telecommunications operator of abuse of dominance; the settlement also comes with a guilty admission to the charges. The Tribunal was first referred the case in 2009 and will need to approve of the settlement offer before it is finalized.

Full Content: Tech Central

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