On 24 January, the Commission opened a formal investigation to ascertain whether the Spanish and Portuguese telecoms incumbents Telefónica and Portugal Telecom have breached EU rules by agreeing not to compete with each other in their respective home markets. The agreement being investigated was concluded last year when Telefónica acquired sole control over their previously jointly-held Brazilian joint venture Vivo. The Commission will also investigate whether the non-compete agreement pre-dates the Vivo deal, which is not concerned by this investigation. Click here for more information.