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Telkom agrees to pay its R449m fine
Telkom has withdrawn an appeal against a ruling by the Competition Tribunal - given in August last year - after complaints from the South African Value Added Networks Services (SAVA) and various other bodies. The company has agreed to pay the R449m fine originally imposed by the Tribunal.
Telkom and the Competition Commission had been engaged in discussions aimed at arriving at a settlement regarding Telkom's appeal and the Commission's cross-appeal to the Competition Appeal Court.
On 15 March‚ the parties reached agreement that‚ subject to confirmation by the Competition Appeal Court‚ each party would withdraw its appeal and cross-appeal respectively and each party would pay its own costs.
The withdrawal of the appeal and cross-appeal was approved by the Competition Appeal Court on 12 April 2013.
Source: I-Net Bridge
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