The cost of sending text messages on your mobile phone while abroad in the European Union is about to fall sharply in July, when a new law approved Wednesday comes into effect.Similarly, the price of Internet downloads onto your mobile while you are traveling in the E.U. will drop, and calls made from abroad will be charged per second, rather than per minute. Currently European consumers are paying as up 24 percent too much because their calls are rounded up to the nearest minute, according to the European Commission, the regulatory and executive branch of the E.U.The European Parliament rubber-stamped the update of roaming laws Wednesday at a plenary meeting in Strasbourg.

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