Spanish regulators have fined carriers Telefonica (TEF), Vodafone (VOD), and Orange (FTE) a combined €120M ($159M) for overcharging consumers for text messages from 2000-2009 via excessive termination rates. The fine comes as text messaging revenue nosedives in Spain and other European markets thanks to the rising popularity of WhatsApp, Skype, and other Web-based messaging solutions.
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