The Australian Competition and Consumer Commission has fined Telstra Corporation Ltd
(ASX:TLS) $40 million for breaching its obligations under federal law.
According to a Fairfax report the ACCC wants to fine Telstra $1 million for every time that it has refused one of its rivals access to its telephone exchanges.The telco has reportedly admitted to refusing access at seven exchanges.
Fairfax reports that under the Telecommunications Act and Trade Practices Act, the watchdog could charge Telstra up to $10 million for each of the 27 contraventions.
However the report says as Telstra says it mistakenly rejected applications the ACCC is seeking smaller fines.
According to Fairfax Telstra says it has improved staff training and the processes for assessing telephone exchanges.
Telstra earned $4.073 billion in the year to June 30, 2009.
