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;))