Telecoms firm Sure said it planned to appeal a fine of almost £3m for breaching competition rules. Sure and JT were found to have worked together to control the provision of mobile networks in Guernsey, an investigation found in 2021.
The Guernsey Competition and Regulatory Authority (GCRA) fined Sure £2,962,632 and JT £439,608 on Thursday.
Sure Group CEO Alistair Beak said it had “acted in accordance with the spirit and the letter of the law”. He said: “This penalty is based on an investigation process which, in our view, was completely flawed from the outset and we are appealing through the Royal Court.
“We are steadfast in our belief that we have done nothing wrong; at all times Sure has acted in accordance with the spirit and letter of the law.”
Mr Beak said the fine was “extraordinary”. “The magnitude of the fine is extraordinary and one which sends a potentially chilling message on conducting business and attracting investment into Guernsey,” he said.
Michael Byrne from the GCRA said the evidence was “clear”. “There is pretty clear evidence that we are dealing with two significant businesses in Guernsey that are competitors and that they have effectively colluded to bring about outcomes in their commercial interests,” he said.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI