Cable operator UPC Slovakia has agreed to lower its prices within 30 days and to pay a fine of Sk25 million ($510,000) to the Telecom Office market regulator for increasing rates by 30 to 50 per cent without justification.
UPC, which had raised its prices sharply in February 2001, withdrew its summer 2001 appeal of an earlier verdict from the Supreme Court. UPC spokesperson Pavla Petrlová said: "The company evaluated the situation and decided it was better to choose the path of dialogue with the Telecom Office."
