Telefonica fine upheld

AN EU court has upheld the record 125 million-euro fine lodged against Telefonica for abusing its dominant market position.

The European Commission, which levied the fine – the largest ever imposed on a telecommunications company – in 2007, accused the telecommunication giant of imposing unfair prices on the Spanish broadband market.

However Telefonica has now said it will launch a further appeal with the European Court of Justice.

It comes as the EU has also launched an ‘in-depth investigation’ into the creation of a potentially anti-competitive mobile commerce joint venture in the UK between Telefonica (O2) and its rivals Vodafone and Everything Everywhere.