DEUTSCHE TELEKOM AG

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EU ordered to repay 1.8 million euros to Deutsche Telekom

01/19/2022 | 06:19am EDT
Logo of German telecommunications giant Deutsche Telekom AG and GSM antennas are seen atop of the headquarters of Deutsche Telekom in Bonn

BRUSSELS (Reuters) - The General Court of the European Union on Wednesday ordered the European Commission to pay 1.8 million euros to Deutsche Telekom after refusing to pay interest on the reimbursement of a fine.

The Commission, which is the EU antitrust authority, in 2014 fined the German telecom firm 31 million euros for abusing its dominant position on the Slovak market for broadband communications.

In 2018, the General Court reduced the fine by 12 million euros, which the EU executive paid back to Deutsche Telekom two months later.

However Brussels refused to pay interest for the period between the payment and the partial reimbursement.

The court found this to be a "serious breach" of EU rules and ordered the Commission to pay Telekom 1.8 million euros.

(Reporting by Francesco Guarascio @fraguarascio; Editing by Kevin Liffey)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 0.27% 18.126 Delayed Quote.10.91%
ON SEMICONDUCTOR CORPORATION 6.07% 58.5 Delayed Quote.-18.80%
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Financials
Sales 2022 115 B 121 B 121 B
Net income 2022 8 645 M 9 106 M 9 106 M
Net Debt 2022 136 B 143 B 143 B
P/E ratio 2022 10,4x
Yield 2022 3,71%
Capitalization 90 121 M 94 925 M 94 925 M
EV / Sales 2022 1,97x
EV / Sales 2023 1,94x
Nbr of Employees 216 528
Free-Float 81,3%
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Number of Analysts 23
Last Close Price 18,08 €
Average target price 23,37 €
Spread / Average Target 29,3%
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Managers and Directors
Timotheus H÷ttges Chairman-Management Board & CEO
Christian P. Illek Chief Financial Officer
Frank Appel Chairman-Supervisory Board
Claudia Nemat Chief Technology & Innovation Officer
Lothar Schr÷der Vice Chairman-Supervisory Board