Oriental Weavers rejects reconciliation with Egypt antitrust watchdog

Egypt’s leading carpet maker Oriental Weavers Company announced Monday its unwillingness to reconcile with the country’s antitrust authority over monopolistic practices.

The group said in a statement Monday it rejects the charges filed by the Egyptian Competition Authority (ECA) and believes that they lack legal basis.

The Cairo listed rug maker added that it has not been charged or investigated by the country’s public-prosecutor.

Oriental Weavers, the world’s largest producer of machine-woven carpets according to its website, is accused of striking agreements with distributors to exclusively sell its products in Egypt.

In August, ECA announced in a statement that Oriental Weavers would be referred to the public prosecution on accusations of monopolistic practices.

ECA 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.