With the world going global, there is a rise in the use of telephones, as result more and more operators are entering the telecom industry. As the saying goes for one to gain, other has to lose; similarly a new entry in the market costs the incumbents a loss of profit as well as market share and...

In 2003, the dominant former monopolist, which was subject to a stringent price regulation, and the new entrant in the local calls market of Korea made an agreement in which the entrant was to raise the price while the incumbent was to hand over market shares or transfer money using...