Telstra Group Ltd (ASX:TLS) was ordered to pay a A$18 million ($12 million) penalty over a case brought by Australia’s competition watchdog for allegedly lowering customer internet speeds without informing them.
The Australian Competition and Consumer Commission said on Friday that a federal court ordered Telstra to pay the fine, after the company in late-2020 migrated some 9,000 customers on its Belong brand to a lower upload speed without informing them.
In addition to the penalty, Telstra will also have to pay remediation to customers totalling more than A$2.3 million, the ACCC said.
Telstra shares fell 0.8% on Friday, lagging a 0.3% increase in the ASX 200.
Source :
https://www.investing.com/news/stock-market-news/telstra-fined-12-mln-by-australia-competition-watchdog-over-internet-speed-claims-4269654
