Fin24

Telkom to appeal Competition Tribunal fine

2012-08-30 14:19

Johannesburg – Telkom [JSE:TKG] on Thursday announced in a JSE Sens announcement that it would appeal against the ruling by the Competition Tribunal in the case between Telkom and the South African Value added Networks Services.

“Telkom will now have 40 business days to file the record of appeal before the matter can be set down for hearing by the Competition Appeal Court‚” Telkom said in the statement.

Earlier this month a penalty of R449m was imposed on Telkom by the tribunal for abusing its dominance in the telecoms market between 1999 and 2004‚ when the company was a monopoly provider of telecoms facilities in the country.

*Follow Fin24 on Twitter, Facebook and Google+.