I thought all you Telefonicas haters out there would love the following which I have copied from the BBC site:
The European Commission has fined Spain's Telefonica 151.9m euros ($207m; ?102.5m) for stifling competition in the broadband internet market. It said telecom firm's wholesale prices for other internet providers were too high compared to its own retail tariff.
"The margin squeeze that Telefonica imposed on its competitors not only raised their costs, but also harmed customers," the Commission said. The firm said would appeal against the decision immediately.
The company added that the Commission's ruling was "unjustified and out of proportion", saying it had stuck closely to guidelines set out by Spanish regulators. However, European Union Competition Commissioner Neelie Kroes said the high fine reflected the fact that the Spanish firm was aware it was breaching EU rules.
The penalty is the second highest in EU history, second only to a 497m euro penalty imposed on Microsoft. (End)
Jul 4, 2007 · Don Carlos
Yes, it?s a shame that the EU is not more responsive in other similar areas. I doubt that this fine, which is about 10% of Telef?nica?s profits for Q1 this year, will have much of an effect on this company. They can simply afford to absorb this minor problem and simply pass the bad news onto their customers. It?s not going to address the problem of monopolization and lack of basic telecommunication infrastructure in the rural areas of Spain. But you?re right; it does bring a certain degree of satisfaction :-)