Spain Fines Telefonica, Vodafone, and Orange Over SMS
Spanish regulators have fined Telefonica , Vodafone , and France Telecom's Orange unit a record total of $159 million, for taking advantage of their dominant positions to overcharge for their short message services, or SMS -- also known as text messaging.
The Commission National de la Competencia, or CNC, Spain's antitrust regulator, accused that nation's three largest mobile operators of committing an "exploitative abuse of dominant position," conduct prohibited by Spain's Competition Act.
The SMS overcharging occurred during the period 2000-2009, and was facilitated by those carriers' SMS operations not being regulated during that time, the CNC wrote in a press release.
The article Spain Fines Telefonica, Vodafone, and Orange Over SMS originally appeared on Fool.com.Dan Radovsky has no positions in the stocks mentioned above. The Motley Fool owns shares of France Telecom (ADR). Motley Fool newsletter services recommend France Telecom (ADR), Vodafone Group Plc (ADR), and Vodafone Group Plc (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.