- Germany is eyeing higher penalties for wireless operators that fail to meet network expansion requirements, according to Handelsblatt.
- That comes through an agreement by coalition partners CDU/CSU and SPD; the German parliament is set to pass a law on the matter on June 27.
- The fines for companies that miss their goal would rise to as much as €1M from a current €100K.
- And penalty payments would be raised to as much as €10M from a current €0.5M; companies with sales over €50M would face fines of 2% of average annual sales.
- Affected companies: Deutsche Telekom (DTEGY -0.8%); Vodafone Germany (VOD -1.3%); Telefónica Deutschland (TEF -1%); Royal KPN (KKNPY -0.9%).
- Source: Bloomberg