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Telkom South Africa Receives $55 Million Antitrust Fine

Telkom SA Ltd. was fined 449 million rand ($55 million) for abusing its dominance in South African telecommunications between 1999 and 2004, less than the 3.25 billion rand the Competition Commission had sought.

Shares of Africa’s largest fixed-line phone company jumped the most since March 7, advancing 4.4 percent to 18.84 rand at the 5 p.m. close in Johannesburg.