STC denies accusation made by Atheeb Telecom

16 Feb 2011

Reuters reports that Saudi Telecom (STC) has hit back after rival operator Atheeb Telecom filed a lawsuit against it for allegedly breaching anti-monopoly laws. Atheeb says it accumulated losses estimated at USD175 million after it was prevented from providing some of its services. In a statement to the stock exchange, however, STC said that ‘the issue raised by Atheeb Telecom is related to demands that are not supported by regulations and contradict the current agreement between the two firms’.