Saudi regulator fines Saudi Telecom $2.67mln

The authority said the fine was a result of the company "abusing its dominant position", state TV reported

  
Photo used for illustrative purpose. A Saudi man looks at his mobile phone in front of a Saudi Telecom sign in Riyadh.

Photo used for illustrative purpose. A Saudi man looks at his mobile phone in front of a Saudi Telecom sign in Riyadh.

REUTERS/Zainal Abd Halim

CAIRO - Saudi Arabia's general authority for competition (GAC) on Monday fined Saudi Telecom Company (STC) 10 million Saudi riyals ($2.67 million), state TV said.

The authority said the fine was a result of the company "abusing its dominant position", state TV reported.

($1 = 3.7515 riyals)

(Reporting by Nayera Abdallah; editing by David Evans) ((Nayera.Abdallah@thomsonreuters.com;))


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