By Adria Calatayud
Britain's telecommunications regulator Ofcom said Tuesday that it fined Telefonica SA's (TEF.MC) mobile business Giffgaff 1.4 million pounds ($1.7 million) for overcharging customers.
The regulator said the penalty follows an investigation in which it found that Giffgaff's billing system led to around 2.6 million customers being overcharged up to a total of around GBP2.9 million.
The business has already refunded GBP2.1 million to affected customers and the fine was reduced as Giffgaff--which uses Telefonica's O2 network to provide mobile services to its customers--agreed to settle the case and admitted the breach identified, Ofcom said.
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