Competition authority slaps stc with $2.66m fine

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.