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Competition authority slaps stc with $2.66m fine

December 23, 2020

The telecom operator abused its dominant position, imposing certain conditions on sale and purchase processes with dealing with another entity

The General Authority for Competition (GAC) imposed today, Dec. 21, a fine of SR10 million ($2.66 million) on STC Group, on violating Article 5 of the competition law, which stipulates that “any entity with a dominant position shall be prohibited from any practice that could limit competition.”

The telecom operator abused its dominant position, imposing certain conditions on sale and purchase processes with dealing with another entity. Accordingly, stc group was in a weak position, as compared to other competitors.

GAC said that it received a complaint that stc has violated the competition law, adding that the telecom operator rejected to deal with another entity, to hinder its entrance to the market.

Moreover, the disputes settlement committee issued its resolution, noting that stc appealed the decision. However, the administrative appeal court upheld the committee’s resolution on fining the Saudi-listed telecom operator.

arabnews

telecom