Oriental Weavers accused of ‘monopolistic practices’ – Egypt competition watchdog

Egypt-based leading carpet maker, Oriental Weavers (ORWE.CA) has been referred Tuesday to the public prosecution on accusations of monopolistic practices, the country’s competition watchdog announced.

The watchdog, the Egyptian Competition Authority (ETA) attributed its decision to refer the company to the public production saying Oriental Weavers had agreed with several distributors not to distribute products made by any company that it competes with.

If a court rules against Oriental Weavers, the group may faces a fine of up to 300 million Egyptian pounds (US$38.31 million), the authority said.