News: TPG Australia's ACCC Says Telcos To Pay A$33.5 Mln For Misleading Statements About Nbn Max...

Nov 11 (Reuters) - Singapore Telecommunications Ltd STEL.SI :

• TELCOS TO PAY A TOTAL OF A$33.5 MILLION FOR MISLEADING STATEMENTS ABOUT NBN MAXIMUM SPEEDS
• FINE FOR MAKING FALSE REPRESENTATIONS TO CONSUMERS WHEN PROMOTING CERTAIN NBN INTERNET PLANS, IN PROCEEDINGS BROUGHT BY THE ACCC
• TELSTRA CORPORATION, OPTUS INTERNET AND TPG INTERNET TO PAY A$33.5 MILLION
• TELSTRA WAS ORDERED TO PAY A$15 MILLION, OPTUS WAS ORDERED TO PAY A$13.5 MILLION, AND TPG ORDERED TO PAY A$5 MILLION IN PENALTIES
• TELSTRA, OPTUS, AND TPG EACH ADMITTED THAT THEIR STATEMENTS WERE FALSE OR MISLEADING
• PENALTIES FOR BREACHING AUSTRALIAN CONSUMER LAW BY MAKING FALSE/MISLEADING STATEMENTS ABOUT 50MBPS OR 100MBPS FIBRE TO THE NODE PLANS
• TELSTRA, OPTUS, AND TPG WERE ORDERED TO PAY PART OF ACCC’S COSTS
• TELSTRA, OPTUS AND TPG FALSELY REPRESENTED TO THOSE CONSUMERS THAT THEIR NBN CONNECTIONS WERE CAPABLE OF ATTAINING THE HIGHER SPEEDS