LatinNews Daily - 12 May 2022

In brief: Brazil’s anti-trust regulator fines telecom companies

* Brazil’s anti-trust regulator (CADE) has fined the Brazilian telecommunications company Oi, the Mexican company América Móvil, and the Spanish company Telefónica, for forming an alliance to reduce competition in a 2015 tender held by Empresa Brasileira de Correios e Telégrafos (ECT), the state-owned company that operates the postal service. CADE ruled that the companies had “harmed the competitive environment and the operations of other agents in the market” by “acting in a coordinated way to eliminate competition between themselves by forming the Red Correos consortium to win the tender.” The companies were fined a total of R$783m (US$152.3m), with América Móvil ordered to pay R$395.2m, Oi, R$266.1m, and Telefónica, R$121.7m.

End of preview - This article contains approximately 122 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.