Spanish Competition Court imposes 78.8 Mln Euro fines in 2004

Spanish competition court Tribunal de Defensa de la Competencia (TDC) imposed 78.8 mln euro ($103.3 mln) fines in 2004, a seven fold year-on-year increase, it was reported on January 12, 2005.

Fines were imposed on 33 companies, three business associations, one professional organisation, and one fishermen association breaching the competition rules in Spain. The fined companies specialised in telecoms, energy, postal services, marine transport health care services and foods and drinks.

The largest fine, 57 mln euro ($74.7 mln) was imposed on Spain’s telecoms giant Telefonica SA. Telefonica filed and won a suit against the fine. The second largest fine was imposed on state-run postal services provider Sociedad Estatal Correos y Telegrafos SA (Correos), 15 mln euro ($19.7 mln), followed by the fines imposed on local power companies Endesa SA, Iberdrola SA and Union Fenosa SA.

(Note: All figures are for 2004.)

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