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British regulator: Sky may have broken consumer rules

Sep. 20, 2016 1:02 PM ETTalktalk Telecom Group, PLC ADR (TKTCY) StockBT, LBTYA, SKYAY, TKTCY, FOXA, FOXBy: Jason Aycock, SA News Editor
  • There's "reasonable grounds" to believe that broadcaster Sky (OTCPK:SKYAY -1.1%) broke consumer rules by making canceling service too difficult, a British regulator says.
  • That includes problems customers had trying to switch to competitors like market-leading BT Group (BT +0.6%), Virgin Media (LBTYA +0.2%) and TalkTalk (OTCPK:TKTCY) -- and it could set Sky up for a major fine from Ofcom.
  • The agency said Sky -- Britain's No. 2 broadband provider (24% market share), 39% owned by Twenty-First Century Fox (FOX -0.3%, FOXA -0.2%) -- may have broken the rules between May 2015 and July 2015 on landline and broadband services.
  • For its part, Sky said it was "very disappointed" with the decision and would review it before a fuller response.
  • The company has a month to produce a written response, or face a fine that could hit £1M, like what it levied against mobile operator EE for a similar complaint.

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