Telenor Appeal to Overturn $87.8 Million Fine Is Rejected by Norwegian Court

By Joe Hoppe

Telenor ASA said Friday that its appeal to the Norwegian Supreme Court to overturn a 788 million kroner ($87.8 million) fine from the country's market regulator has been rejected.

The Norwegian telecomms provider said that the Norwegian Competition Authority decided to impose the fine in a 2018 verdict, concerning a pricing model in a wholesale agreement between Telenor and Network Norway between 2010 and 2014.

Telenor said that Gulating Appeal Court upheld the decision and it appealed the verdict to the Supreme Court, though that has now been rejected.

The fee will be recognized in the fourth quarter of the year and classified as "other items," the company said.

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(END) Dow Jones Newswires

11-26-21 1238ET