“..Telecom, the biggest company on the NZX 50 Index, has failed to overturn a record $12 million fine imposed for breaching competition law by misusing its market power.
The Court of Appeal upheld the fine imposed in the High Court in Auckland in April last year for breaches of section 36 of the Commerce Act.
“The Court of Appeal found that from February 1999 to late 2004 Telecom unlawfully took advantage of its market power to charge downstream competitors disproportionately high prices for wholesale access to its network” -
-the Commerce Commission said in announcing the decision…”
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