- Telenor (TELNY -1.3%) says it's received a conclusion from Norway's Competition Complaint Board, which in a split decision has upheld a fine imposed by the Norwegian Competition Authority.
- "We are disappointed not to have been heard, but we note that the minority finds the agreement to be legal," says CEO Petter-Børre Furberg.
- The company has three months to issue a writ in a court of appeal and "We will now thoroughly review the Competition Complaint Board’s decision,” Furberg says.
- The NCA claimed Telenor used its wholesale pricing model to restrict competition in the market between 2010 and 2014, and a year ago imposed a fine of 788M kroner (about $90.5M).