OTE fined USD37 million for ‘market abuse’

30 Jul 2007

Greek incumbent telco OTE has been fined over EUR27 million (USD37 million) by the National Telecommunications & Post Commission (EETT) for abusing its dominant position in the broadband market. The watchdog issued the fine because it considers OTE has obstructed competition through ADSL price margin squeezing, and because the former monopoly has not conformed to previous regulatory rulings. OTE may appeal; it said it was studying the decision and the fine carefully and will act in the best interests of shareholders and customers.

Greece, Cosmote