EC caps Euro roam rates at 30 percent

BRUSSELS, July 11 (UPI) -- European regulators Wednesday announced they would cap wireless roaming rates at 30 percent of current levels at the end of the year.

The European Commission's plan, which has been sharply criticized by Europe's wireless operators, must first be approved by the European Parliament and individual member governments.

The restrictions are aimed at sparing European business travelers in particular who frequently cross borders and are then hit with hefty roaming charges.

The wireless industry has argued that while roaming rates might be a bit on the high side, price controls would dampen competition and infrastructure investment, which would hurt consumers in the long run.