Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, October 3, 2014

EU antitrust regulators scrap D. Telekom, Orange, Telefonica probe, (NYSE: ORAN)

Deutsche Telekom, Orange SA and Telefonica did not shut out rivals in the Internet content market, EU antitrust regulators said on Friday as they dropped a 14-month investigation triggered by a U.S. competitor.The case, which began with dawn raids in July last year, underlines the tension between telecoms operators and firms which carry data traffic on behalf of Internet companies such as Google's YouTube to consumers around the world.Telecoms providers are also seeking to charge for such delivery in a bid to benefit from the flourishing video-streaming business, while rivals have complained that the operators may be abusing their market dominance.The European Commission took action following concerns raised by U.S.-based Cogent Communications. It did not name the companies investigated, but the firms themselves confirmed the dawn raids.

Orange SA, formerly France Telecom SA, is a France-based company that is engaged, principally, in the provision of integrated telecommunications services. Shares of ORAN fell by 1.11% or $-0.16/share to $14.21. In the past year, the shares have traded as low as $11.65 and as high as $17.43. On average, 588172 shares of ORAN exchange hands on a given day and today's volume is recorded at 464782.