Telefonica to appeal EU fine for collusion

Reflections are seen on a logo of Spain's telecommunications giant Telefonica in MadridMADRID (Reuters) – Spain's Telefonica said on Wednesday it disagreed with a fine by European Union antitrust regulators on its competition agreements with Portugal Telecom and would appeal the decision with the Luxembourg-based EU Court of Justice. The European Commission said it was fining Telefonica 79 million euros ($ 104.96 million) and Portugal Telecom 12 million euros for agreeing not to compete against each other in the Iberian telecoms market. (Reporting By Tracy Rucinski; Editing by Fiona Ortiz)

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