9:00 AM -- Spain's three largest mobile operators –- Telefónica SA (NYSE: TEF)'s Movistar, Vodafone España S.A. , and Orange Spain -- are in hot water over alleged price fixing. Reuters reports that the Spanish competition commission launched an investigation into whether the operators colluded on a price hike in March.

It's not the first time European mobile operators have been accused of collusion. At the end of 1995, Orange France , SFR , and Bouygues Telecom were fined €536 million ($760 million) for price fixing. The amount each operator paid was equivalent to 1 percent of revenues. (See French Operators Protest Fine and Orange Appeals Against Fine.)

— Michelle Donegan, European Editor, Light Reading