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Friday, October 3, 2014

EU scraps Deutsche Telekom, Orange, Telefonica investigation, (NYSE: ORAN)

Deutsche Telekom, Orange SA and Telefonica did not squeeze out Internet rivals, EU antitrust regulators said, in a case emblematic of the tussle between web companies and telecoms operators.The European Commission said on Friday it had closed a 14-month investigation, which started with dawn raids triggered by a U.S. competitor, as it had found no proof of wrongdoing.The 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."The Commission found no evidence of behaviour aimed at foreclosing transit services from the market or at providing an unfair advantage to the telecoms operators' own proprietary content services," the EU executive said in a statement.

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 traded higher by 0.11% or $0.0162/share to $14.23. 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 182919.