Belgian Telenet to appeal proposed cable TV regulation.
Telenet said it regrets that the Conference of Regulators did not use the opportunity to align its amended draft proposal of May 20 to the fundamental concerns echoed by the European Commission (EC) on June 20. According to the company, the EC formally criticized the regulator's approach to impose a number of wholesale obligations on the basis of an analysis of the retail market, which is, in principle, contrary to European Union (EU) law.
Yesterday, Belgian media regulators submitted a formal decision to regulate the local cable TV market which will open it to alternative operators. Telenet said it will now look into all legal options to appeal the decision.
The share was pulled down by the news. Following a drop on Monday, Telenet traded 3.6% down to EUR 31.07 at 1311 CET in Brussels today.
(EUR 1.0 = USD 1.419)