STC fined SAR6.65mn, Mobily fined SAR5mn for violations
The Communications and Information Technology Commission (CITC) fined Saudi Telecom Company (STC) [7010.SE] SAR6.65mn for nine violations, including its issuance of incompatible SIM cards and its failure to fulfil subscriber complaints, according to Argaam. The CITC also fined Etihad Etisalat Co. [7020.SE] (Mobily) SAR5mn for its failure to apply the per-second billing regulation.
Saudi Telecom Company: SAR79.57 as of 9 May 2018, Rating: Neutral, TP: SAR71.00/share, MCap: USD42,437mn, STC AB/7010.SE
Mobily: SAR16.75 as of 9 May 2018, Rating: Neutral, TP: SAR17.00/share, MCap: USD3,439mn, EEC AB/7020.SE
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