Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Russian regulator says mobile operator MTS breached anti-monopoly laws

by Staff GBAF Publications Ltd
0 comment

MOSCOW (Reuters) -Russia’s competition watchdog on Wednesday said leading telecoms company MTS violated anti-monopoly legislation in raising the price of some mobile tariff plans well above inflation.

Prices for most goods and services rose sharply soon after Russia sent thousands of troops into Ukraine in February, sparking hefty Western sanctions.

The Federal Antimonopoly Service (FAS) said MTS would have to lower prices to economically justified levels and pay a fine, the size of which would be determined after an investigation.

MTS said it had not yet received a formal ruling from the FAS.

“The adjustment of tariffs took into account the growth in costs of servicing telecoms infrastructure, which exceeds the growth of telecoms service revenues,” MTS said in a statement.

“The company will study the FAS’ arguments after receiving the official text of the decision.”

The FAS said MTS had raised the price of mobile services for more than 28 million subscribers by an average of 9.5%, basing this on a rise in its costs.

“In August, September and October 2022, MTS again raised the cost for these tariff plans,” the FAS said. “The general increase in tariffs was more than 20% at a time when the consumer price index stood at 10.5% at the end of August.”

The FAS said MTS had not provided enough evidence of its costs. MTS said it had submitted the necessary proof.

(Reporting by Alexander Marrow and Gleb StolyarovEditing by David Goodman and Nick Macfie)