In brief: Telecom fined $12m by NZ High Court

Telecom [ASX:TEL] has been fined $12 million by the High Court of New Zealand after the Commerce Commission alleged the telco had breached the through high-speed data pricing.

The penalty comes after the introduction of retail and wholesale pricing for data services some 10 years ago, with Telecom being accused of breaching two data tails unintentionally.

In a statement from Telecom, the company declared it would be appealing the High Court's decision on liability with the appeal hearing set to be heard in September this year.

The court ruled that Telecom made the breaches between 1999 and 2004, despite the telco claiming that its errors were unintentional and based on a technical error.

The news comes as Telecom .