JOHANNESBURG Aug 7 (Reuters) – South Africa’s competition
regulator fined fixed-line operator Telkom 449 million
rand ($55 million) on Tuesday for “bullying” its competitors in
a market abuse case stretching back to 2004.
The result is likely to be seen as a victory for Telkom.
South Africa’s competition watchdog had originally sought a fine
of 3.5 billion rand in the case, which the struggling company
has said would be “catastrophic” and jeopardise its business.
Shares of Telkom pared losses significantly after the
decision and were down 0.7 percent at 17.93 rand at 0811 GMT.
($1 = 8.1482 South African rand)
(Reporting by David Dolan, Tiisetso Motsoeneng and Helen
Nyambura-Mwaura; Editing by Jon Herskovitz)
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